Clearside Biomedical (NASDAQ:CLSD) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD - Free Report) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $4.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut Clearside Biomedical from a "hold" rating to a "sell" rating in a report on Tuesday, March 18th. HC Wainwright reissued a "buy" rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Monday, March 31st. Finally, Chardan Capital reissued a "buy" rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $5.25.

Clearside Biomedical Price Performance

Shares of CLSD stock traded up $0.02 on Tuesday, hitting $0.76. 231,422 shares of the stock traded hands, compared to its average volume of 350,788. The firm has a 50 day simple moving average of $0.94 and a two-hundred day simple moving average of $1.02. Clearside Biomedical has a 52 week low of $0.70 and a 52 week high of $1.65. The firm has a market cap of $59.11 million, a price-to-earnings ratio of -1.70 and a beta of 2.04.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. The business had revenue of $0.31 million during the quarter, compared to the consensus estimate of $0.27 million. Sell-side analysts forecast that Clearside Biomedical will post -0.48 EPS for the current year.

Institutional Trading of Clearside Biomedical

Several hedge funds have recently modified their holdings of CLSD. Geode Capital Management LLC raised its stake in shares of Clearside Biomedical by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company's stock worth $726,000 after acquiring an additional 32,672 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Clearside Biomedical by 24.0% during the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company's stock valued at $157,000 after purchasing an additional 32,048 shares during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new stake in shares of Clearside Biomedical in the 4th quarter worth $32,000. 18.75% of the stock is owned by hedge funds and other institutional investors.

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.