Clearside Biomedical (NASDAQ:CLSD) Stock Rating Lowered by Jones Trading

Clearside Biomedical (NASDAQ:CLSD) was downgraded by stock analysts at Jones Trading from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

CLSD has been the topic of a number of other reports. HC Wainwright cut Clearside Biomedical from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a report on Friday. Chardan Capital cut Clearside Biomedical from a “buy” rating to a “neutral” rating in a research report on Friday. Stifel Nicolaus cut Clearside Biomedical from a “buy” rating to a “hold” rating and set a $2.00 price objective for the company. in a research report on Friday. Wall Street Zen raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, May 17th. Finally, Needham & Company LLC cut Clearside Biomedical from a “moderate buy” rating to a “hold” rating and set a $3.00 price objective for the company. in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.20.

Clearside Biomedical Stock Down 31.9%

Shares of NASDAQ CLSD opened at $0.41 on Thursday. Clearside Biomedical has a fifty-two week low of $0.32 and a fifty-two week high of $1.65. The business has a 50 day moving average price of $0.82 and a two-hundred day moving average price of $0.88. The firm has a market cap of $31.86 million, a PE ratio of -1.00 and a beta of 2.05.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. The company had revenue of $2.33 million during the quarter, compared to the consensus estimate of $0.20 million. On average, analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current year.

Institutional Trading of Clearside Biomedical

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Clearside Biomedical by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after acquiring an additional 32,672 shares in the last quarter. Northern Trust Corp increased its stake in Clearside Biomedical by 24.0% in the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after acquiring an additional 32,048 shares during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC bought a new stake in shares of Clearside Biomedical during the fourth quarter worth $32,000. Institutional investors own 18.75% of the company’s stock.

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.