Shares of Clearside Biomedical Inc (NASDAQ:CLSD) have been assigned an average rating of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $11.83.
Several research analysts recently issued reports on CLSD shares. ValuEngine raised Clearside Biomedical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. Stifel Nicolaus reaffirmed a “hold” rating and set a $4.00 target price (down from $20.00) on shares of Clearside Biomedical in a research report on Monday, November 5th. Wedbush set a $29.00 target price on Clearside Biomedical and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Needham & Company LLC set a $4.00 target price on Clearside Biomedical and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Finally, Janney Montgomery Scott set a $4.00 target price on Clearside Biomedical and gave the stock a “buy” rating in a research report on Tuesday, November 6th.
Large investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in shares of Clearside Biomedical by 43.2% in the 2nd quarter. Rhumbline Advisers now owns 26,703 shares of the company’s stock worth $285,000 after buying an additional 8,057 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Clearside Biomedical by 56.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 60,222 shares of the company’s stock worth $644,000 after buying an additional 21,622 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Clearside Biomedical in the 2nd quarter worth about $534,000. BlackRock Inc. boosted its position in shares of Clearside Biomedical by 53.1% in the 2nd quarter. BlackRock Inc. now owns 1,859,948 shares of the company’s stock worth $19,883,000 after buying an additional 645,292 shares in the last quarter. Finally, Voya Investment Management LLC purchased a new stake in shares of Clearside Biomedical in the 2nd quarter worth about $123,000. 57.94% of the stock is owned by institutional investors and hedge funds.
NASDAQ CLSD opened at $1.20 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.59 and a current ratio of 4.59. Clearside Biomedical has a twelve month low of $0.99 and a twelve month high of $15.33. The firm has a market cap of $39.71 million, a P/E ratio of -0.52 and a beta of -1.80.
Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Thursday, November 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.12). On average, analysts forecast that Clearside Biomedical will post -2.57 earnings per share for the current fiscal year.
Clearside Biomedical Company Profile
Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.
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