Needham & Company LLC Has Lowered Expectations for Clearside Biomedical (NASDAQ:CLSD) Stock Price

Clearside Biomedical (NASDAQ:CLSD) had its target price dropped by analysts at Needham & Company LLC from $4.00 to $3.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 251.29% from the stock’s previous close.

CLSD has been the subject of several other reports. 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. StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, May 9th. Finally, HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Clearside Biomedical Stock Down 5.1%

Shares of Clearside Biomedical stock opened at $0.85 on Thursday. The firm has a market capitalization of $66.00 million, a P/E ratio of -1.90 and a beta of 2.11. Clearside Biomedical has a 52 week low of $0.70 and a 52 week high of $1.65. The company has a 50 day moving average price of $0.88 and a 200 day moving average price of $0.95.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The firm had revenue of $2.33 million during the quarter, compared to analyst estimates of $0.20 million. As a group, research analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Investor s Fiduciary Advisor Network LLC acquired a new position in Clearside Biomedical during the fourth quarter valued at $32,000. Northern Trust Corp lifted its position in shares of Clearside Biomedical by 24.0% in the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after purchasing an additional 32,048 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Clearside Biomedical by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock worth $726,000 after purchasing an additional 32,672 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.