Clearside Biomedical (NASDAQ:CLSD) Rating Increased to Hold at StockNews.com

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

A number of other equities analysts also recently weighed in on CLSD. HC Wainwright reissued a "buy" rating and set a $5.00 target price on shares of Clearside Biomedical in a research note on Tuesday, August 27th. Oppenheimer started coverage on shares of Clearside Biomedical in a research note on Tuesday, June 25th. They set an "outperform" rating and a $5.00 target price for the company. Needham & Company LLC lifted their target price on shares of Clearside Biomedical from $4.00 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Monday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Clearside Biomedical presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.17.

Clearside Biomedical Price Performance

Shares of NASDAQ:CLSD remained flat at $1.15 during mid-day trading on Friday. 251,453 shares of the stock were exchanged, compared to its average volume of 398,562. The firm has a market cap of $85.94 million, a price-to-earnings ratio of -2.09 and a beta of 2.35. The firm's fifty day simple moving average is $1.16 and its two-hundred day simple moving average is $1.22. Clearside Biomedical has a 52 week low of $0.65 and a 52 week 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 firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.25 million. During the same period in the prior year, the business earned ($0.15) EPS. Sell-side analysts anticipate that Clearside Biomedical will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Clearside Biomedical by 14.5% during the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company's stock valued at $3,811,000 after buying an additional 314,480 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Clearside Biomedical by 6.6% during the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company's stock valued at $757,000 after buying an additional 35,900 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Clearside Biomedical during the second quarter valued at about $368,000. XTX Topco Ltd grew its holdings in shares of Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company's stock valued at $71,000 after buying an additional 34,359 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Clearside Biomedical during the first quarter valued at about $57,000. 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.

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