Clearside Biomedical (NASDAQ:CLSD) Price Target Lowered to $4.00 at Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) had its target price lowered by investment analysts at Needham & Company LLC from $6.00 to $4.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's target price would indicate a potential upside of 339.56% from the company's previous close.

Several other equities research analysts have also commented on the stock. HC Wainwright reiterated a "buy" rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Thursday, March 6th. StockNews.com lowered shares of Clearside Biomedical from a "hold" rating to a "sell" rating in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $5.25.

Clearside Biomedical Stock Down 0.9 %

CLSD stock traded down $0.01 during midday trading on Friday, hitting $0.91. The company's stock had a trading volume of 32,081 shares, compared to its average volume of 353,415. The firm has a market capitalization of $69.02 million, a P/E ratio of -2.02 and a beta of 2.10. Clearside Biomedical has a 52-week low of $0.77 and a 52-week high of $1.65. The firm has a 50-day simple moving average of $0.96 and a 200-day simple moving average of $1.04.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.03. The firm had revenue of $0.31 million for the quarter, compared to analyst estimates of $0.27 million. On average, sell-side analysts expect that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clearside Biomedical

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company's stock worth $929,000 after buying an additional 59,089 shares in the last quarter. Northern Trust Corp lifted its holdings in Clearside Biomedical by 24.0% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company's stock worth $157,000 after purchasing an additional 32,048 shares during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC bought a new stake in shares of Clearside Biomedical during the 4th quarter worth $32,000. 18.75% of the stock is owned by institutional investors and hedge funds.

About Clearside Biomedical

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.