Clearside Biomedical's (CLSD) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD - Free Report) in a research report released on Wednesday morning,Benzinga reports. They currently have a $6.00 price target on the stock.

CLSD has been the topic of several other research reports. StockNews.com lowered shares of Clearside Biomedical from a "hold" rating to a "sell" rating in a report on Friday, November 8th. HC Wainwright restated a "buy" rating and set a $5.00 target price on shares of Clearside Biomedical in a report on Tuesday, August 27th. Finally, Chardan Capital restated a "buy" rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $5.17.

Clearside Biomedical Stock Down 3.6 %

Shares of NASDAQ CLSD traded down $0.04 during trading on Wednesday, hitting $1.07. 213,782 shares of the company traded hands, compared to its average volume of 401,667. Clearside Biomedical has a 1 year low of $0.90 and a 1 year high of $2.12. The company has a 50-day moving average price of $1.18 and a 200-day moving average price of $1.19.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04. The company had revenue of $0.09 million for the quarter, compared to analysts' expectations of $0.25 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. On average, analysts anticipate that Clearside Biomedical will post -0.56 EPS for the current year.

Insider Buying and Selling at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong acquired 36,500 shares of the company's stock in a transaction on Friday, November 1st. The shares were purchased at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the purchase, the insider now owns 100,000 shares in the company, valued at $100,000. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical in the 2nd quarter valued at about $368,000. Vanguard Group Inc. grew its position in shares of Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company's stock worth $3,811,000 after buying an additional 314,480 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Clearside Biomedical during the 1st quarter worth approximately $49,000. XTX Topco Ltd grew its position in shares of Clearside Biomedical by 172.2% during the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company's stock worth $71,000 after buying an additional 34,359 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of 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. 18.75% of the stock is currently 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.