Needham & Company LLC Increases Clearside Biomedical Inc. (CLSD) Price Target to $24.00
Clearside Biomedical Inc. (NASDAQ:CLSD) had its price objective raised by analysts at Needham & Company LLC from $16.00 to $24.00 in a report released on Thursday. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 35.52% from the company’s current price.
Several other equities analysts have also issued reports on the company. Zacks Investment Research raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Monday, September 19th. Wedbush reissued a “buy” rating and issued a $28.00 price target on shares of Clearside Biomedical in a research note on Thursday, August 25th. Finally, Stifel Nicolaus boosted their price target on Clearside Biomedical from $13.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, October 24th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $20.69.
Clearside Biomedical (NASDAQ:CLSD) traded up 7.8492% during trading on Thursday, reaching $19.1001. 22,517 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $18.45 and its 200-day moving average price is $10.73. Clearside Biomedical has a 12 month low of $5.65 and a 12 month high of $25.08. The firm’s market cap is $392.41 million.
Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Thursday, August 11th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by $0.30. On average, equities research analysts anticipate that Clearside Biomedical will post ($2.10) EPS for the current year.
Institutional investors have recently modified their holdings of the company. AWM Investment Company Inc. purchased a new position in shares of Clearside Biomedical during the second quarter worth $350,000. Perceptive Advisors LLC bought a new stake in Clearside Biomedical during the second quarter worth approximately $4,450,000. Marshall Wace LLP bought a new stake in Clearside Biomedical during the second quarter worth approximately $1,122,000. Iguana Healthcare Management LLC bought a new stake in Clearside Biomedical during the second quarter worth approximately $526,000. Finally, Bank of New York Mellon Corp bought a new stake in Clearside Biomedical during the third quarter worth approximately $289,000. 36.61% of the stock is currently owned by institutional investors.
About Clearside Biomedical
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.
Receive News & Stock Ratings for Clearside Biomedical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearside Biomedical Inc. and related stocks with our FREE daily email newsletter.