Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives $4.75 Consensus Price Target from Analysts

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have earned an average rating of “Buy” from the four research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $4.75.

A number of research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Clearside Biomedical in a report on Thursday, April 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 price target on shares of Clearside Biomedical in a report on Wednesday, March 13th. Wedbush reissued an “outperform” rating and issued a $4.00 price objective (down from $5.00) on shares of Clearside Biomedical in a report on Wednesday, March 13th. StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, March 14th.

Clearside Biomedical Stock Down 0.8 %

Shares of CLSD opened at $1.31 on Wednesday. The company has a market capitalization of $97.88 million, a price-to-earnings ratio of -2.47 and a beta of 2.29. Clearside Biomedical has a 52 week low of $0.65 and a 52 week high of $2.12. The stock’s 50-day moving average price is $1.45 and its 200-day moving average price is $1.21.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. The company had revenue of $6.35 million during the quarter, compared to analysts’ expectations of $3.40 million. As a group, equities analysts anticipate that Clearside Biomedical will post -0.56 EPS for the current fiscal year.

Insider Transactions at Clearside Biomedical

In other news, major shareholder Bradford T. Whitmore acquired 444,444 shares of Clearside Biomedical stock in a transaction that occurred on Wednesday, February 7th. The stock was purchased at an average cost of $1.35 per share, with a total value of $599,999.40. Following the purchase, the insider now owns 4,495,034 shares in the company, valued at $6,068,295.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Clearside Biomedical news, major shareholder Bradford T. Whitmore acquired 444,444 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was bought at an average price of $1.35 per share, for a total transaction of $599,999.40. Following the acquisition, the insider now owns 4,495,034 shares in the company, valued at $6,068,295.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ngai Hang Victor Chong bought 30,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were bought at an average price of $1.60 per share, for a total transaction of $48,000.00. Following the completion of the acquisition, the insider now owns 30,000 shares in the company, valued at $48,000. The disclosure for this purchase can be found here. Insiders have bought 481,154 shares of company stock valued at $656,387 over the last ninety days. Insiders own 9.80% of the company’s stock.

Institutional Trading of Clearside Biomedical

Several large investors have recently added to or reduced their stakes in CLSD. International Assets Investment Management LLC acquired a new position in shares of Clearside Biomedical during the 1st quarter valued at about $57,000. Vanguard Group Inc. boosted its holdings in Clearside Biomedical by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 2,176,316 shares of the company’s stock valued at $2,546,000 after purchasing an additional 9,431 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Clearside Biomedical by 375.6% in the 2nd quarter. Stifel Financial Corp now owns 60,544 shares of the company’s stock valued at $68,000 after buying an additional 47,814 shares during the period. BlackRock Inc. grew its stake in shares of Clearside Biomedical by 1.9% in the 2nd quarter. BlackRock Inc. now owns 813,310 shares of the company’s stock valued at $911,000 after buying an additional 14,789 shares during the period. Finally, Balyasny Asset Management LLC acquired a new stake in shares of Clearside Biomedical during the 3rd quarter worth approximately $25,000. 18.75% of the stock is currently owned by hedge funds and other institutional investors.

Clearside Biomedical Company Profile

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.