Zacks Investment Research upgraded shares of Clearside Biomedical Inc. (NASDAQ:CLSD) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “Clearside Biomedical, Inc. is a biopharmaceutical company is engaged in developing first-in-class drug therapies to treat blinding diseases of the eye using Clearside proprietary suprachoroidal space(TM) microinjector. Its products include CLS-1001 for the treatment of macular edema associated with non-infectious uveitis; CLS-1003 for the treatment of macular edema associated with retinal vein occlusion; and CLS-1002 program for the treatment of wet age-related macular degeneration. Clearside Biomedical, Inc. is headquartered in Alpharetta, Georgia. “

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus initiated coverage on shares of Clearside Biomedical in a report on Monday, June 27th. They issued a buy rating and a $13.00 target price for the company. Needham & Company LLC initiated coverage on shares of Clearside Biomedical in a report on Tuesday, June 28th. They issued a buy rating and a $16.00 target price for the company. Wedbush reaffirmed a buy rating and issued a $28.00 target price on shares of Clearside Biomedical in a report on Thursday, August 25th. Finally, Cowen and Company initiated coverage on shares of Clearside Biomedical in a report on Monday, June 27th. They issued an outperform rating for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $16.19.

Shares of Clearside Biomedical (NASDAQ:CLSD) opened at 24.72 on Tuesday. The firm’s market cap is $507.87 million. Clearside Biomedical has a 12-month low of $5.65 and a 12-month high of $25.08. The company has a 50 day moving average of $12.26 and a 200-day moving average of $8.87.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Thursday, August 11th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by $0.30. Analysts predict that Clearside Biomedical will post ($2.10) EPS for the current year.

Institutional investors have recently bought and sold shares of the company. AWM Investment Company Inc. purchased a new position in Clearside Biomedical during the second quarter worth $350,000. Iguana Healthcare Management LLC purchased a new position in Clearside Biomedical during the second quarter worth $526,000. Marshall Wace LLP purchased a new position in Clearside Biomedical during the second quarter worth $1,122,000. Finally, Perceptive Advisors LLC purchased a new position in Clearside Biomedical during the second quarter worth $4,450,000. Institutional investors and hedge funds own 36.61% of the company’s stock.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc is a late-stage clinical biopharmaceutical company. The Company is developing drug therapies to treat blinding diseases of the eye. The Company’s product candidates are focused on diseases affecting the retina and choroid, especially diseases associated with macular edema, and are injected into the suprachoroidal space (SCS) adjacent to the choroid, using its SCS Microinjector.

5 Day Chart for NASDAQ:CLSD

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