Clearside Biomedical (NASDAQ:CLSD) Stock Rating Reaffirmed by Chardan Capital

Clearside Biomedical (NASDAQ:CLSD - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Chardan Capital in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $6.00 price target on the stock. Chardan Capital's price objective suggests a potential upside of 404.20% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Oppenheimer assumed coverage on Clearside Biomedical in a research report on Tuesday, June 25th. They set an "outperform" rating and a $5.00 target price for the company. HC Wainwright reissued a "buy" rating and set a $5.00 price objective on shares of Clearside Biomedical in a report on Tuesday, August 27th. Finally, Needham & Company LLC raised their target price on shares of Clearside Biomedical from $4.00 to $6.00 and gave the company a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, Clearside Biomedical presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.17.

Clearside Biomedical Stock Down 4.0 %

CLSD stock traded down $0.05 during midday trading on Monday, reaching $1.19. 1,115,462 shares of the company's stock traded hands, compared to its average volume of 395,457. The company has a market cap of $88.93 million, a price-to-earnings ratio of -2.08 and a beta of 2.35. The company has a 50-day simple moving average of $1.15 and a two-hundred day simple moving average of $1.23. Clearside Biomedical has a 1-year low of $0.65 and a 1-year high of $2.12.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.04. The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.25 million. During the same period in the prior year, the firm posted ($0.15) earnings per share. Equities research analysts forecast that Clearside Biomedical will post -0.56 EPS for the current year.

Institutional Trading of Clearside Biomedical

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company's stock valued at $3,811,000 after purchasing an additional 314,480 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Clearside Biomedical in the 2nd quarter valued at $368,000. International Assets Investment Management LLC bought a new stake in shares of Clearside Biomedical in the 1st quarter valued at $57,000. Renaissance Technologies LLC raised its stake in Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company's stock worth $757,000 after buying an additional 35,900 shares during the period. Finally, XTX Topco Ltd lifted its holdings in Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company's stock worth $71,000 after acquiring an additional 34,359 shares in the last quarter. 18.75% of the stock is currently owned by institutional investors and hedge funds.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.