Clearside Biomedical, Inc. (NASDAQ:CLSD) Given Consensus Rating of “Hold” by Brokerages

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $63.00.

Several research firms have recently weighed in on CLSD. Wall Street Zen raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings started coverage on Clearside Biomedical in a research note on Saturday, November 1st. They issued a “sell (e+)” rating on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Clearside Biomedical in a research report on Tuesday, November 18th.

Clearside Biomedical Stock Down 36.4%

Clearside Biomedical stock opened at $0.36 on Monday. The company has a 50 day moving average of $2.40 and a 200-day moving average of $5.80. Clearside Biomedical has a twelve month low of $0.37 and a twelve month high of $17.10. The stock has a market capitalization of $1.87 million, a PE ratio of -0.06 and a beta of 2.04.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Friday, November 14th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.47). The company had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.09 million. Equities analysts anticipate that Clearside Biomedical will post -0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Clearside Biomedical stock. Apollon Wealth Management LLC acquired a new position in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,586 shares of the company’s stock, valued at approximately $94,000. Apollon Wealth Management LLC owned approximately 0.45% of Clearside Biomedical as of its most recent SEC filing. 18.75% of the stock is owned by hedge funds and other institutional investors.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for diseases affecting the back of the eye. The company’s proprietary SCS Microinjector® platform enables targeted delivery of therapeutics into the suprachoroidal space, a potential route to enhance local drug exposure while minimizing off-target effects. Clearside’s approach is designed to address a range of retinal disorders by directly depositing medication adjacent to choroid and retina.

The company’s lead approved product is XIPERE® (triamcinolone acetonide injectable suspension), which has received U.S.