Clearside Biomedical Inc (NASDAQ:CLSD) Receives $3.00 Consensus Target Price from Analysts

Clearside Biomedical Inc (NASDAQ:CLSD) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $3.00.

A number of research firms have issued reports on CLSD. JMP Securities set a $3.00 price objective on shares of Clearside Biomedical and gave the company a “buy” rating in a report on Thursday, August 22nd. ValuEngine cut shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Clearside Biomedical in a research report on Thursday, October 31st. Zacks Investment Research cut Clearside Biomedical from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Wedbush reiterated a “buy” rating and issued a $3.00 price target on shares of Clearside Biomedical in a research note on Sunday, November 24th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in shares of Clearside Biomedical during the 2nd quarter worth approximately $98,000. Vanguard Group Inc. boosted its position in shares of Clearside Biomedical by 66.9% during the 2nd quarter. Vanguard Group Inc. now owns 924,485 shares of the company’s stock worth $899,000 after acquiring an additional 370,690 shares in the last quarter. A.R.T. Advisors LLC bought a new position in Clearside Biomedical in the second quarter valued at approximately $95,000. Paloma Partners Management Co bought a new position in Clearside Biomedical in the second quarter valued at approximately $122,000. Finally, Millennium Management LLC raised its position in Clearside Biomedical by 273.6% during the third quarter. Millennium Management LLC now owns 280,533 shares of the company’s stock valued at $176,000 after purchasing an additional 205,444 shares in the last quarter. 16.97% of the stock is currently owned by institutional investors.

Shares of CLSD traded up $0.02 during midday trading on Monday, reaching $1.64. 235,724 shares of the stock were exchanged, compared to its average volume of 771,059. Clearside Biomedical has a twelve month low of $0.56 and a twelve month high of $1.90. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.54. The company has a market cap of $67.49 million, a P/E ratio of -0.61 and a beta of -0.27. The stock’s 50 day simple moving average is $1.17 and its 200 day simple moving average is $1.02.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.01). Clearside Biomedical had a negative net margin of 18,893.49% and a negative return on equity of 316.25%. The business had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.05 million. As a group, analysts predict that Clearside Biomedical will post -0.84 earnings per share for the current year.

About Clearside Biomedical

Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to restore and preserve vision for people with serious eye diseases. It develops XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of macular edema associated with uveitis, diabetic macular edema, and macular edema associated with retinal vein occlusion.

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Analyst Recommendations for Clearside Biomedical (NASDAQ:CLSD)

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