Brokerages Set Clearside Biomedical, Inc. (NASDAQ:CLSD) Price Target at $4.80

Clearside Biomedical, Inc. (NASDAQ:CLSD) has received a consensus rating of “Buy” from the five research firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $4.80.

A number of research firms have weighed in on CLSD. HC Wainwright cut their price target on Clearside Biomedical from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 price objective on shares of Clearside Biomedical in a report on Friday, May 16th. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, March 28th. Wall Street Zen raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. Finally, Needham & Company LLC decreased their price target on Clearside Biomedical from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, May 15th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Clearside Biomedical during the 4th quarter worth approximately $32,000. Northern Trust Corp raised its position 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 worth $157,000 after purchasing an additional 32,048 shares during the last quarter. Finally, Geode Capital Management LLC raised its position 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 purchasing an additional 32,672 shares during the last quarter. 18.75% of the stock is currently owned by institutional investors and hedge funds.

Clearside Biomedical Trading Down 1.0%

NASDAQ:CLSD opened at $0.80 on Tuesday. The firm has a market cap of $62.17 million, a PE ratio of -1.78 and a beta of 2.06. The stock has a fifty day moving average price of $0.83 and a 200 day moving average price of $0.92. Clearside Biomedical has a 12-month low of $0.70 and a 12-month high of $1.65.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of $2.33 million during the quarter, compared to analyst estimates of $0.20 million. Equities analysts forecast that Clearside Biomedical will post -0.48 EPS for the current year.

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.