Clearside Biomedical’s (CLSD) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research report released on Wednesday morning, TipRanks reports. The brokerage currently has a $10.00 price target on the stock.

A number of other research firms also recently commented on CLSD. Wedbush reaffirmed a buy rating and issued a $18.00 target price on shares of Clearside Biomedical in a research report on Tuesday, September 21st. JMP Securities reaffirmed a buy rating and issued a $10.00 target price on shares of Clearside Biomedical in a research report on Tuesday, September 21st. Zacks Investment Research cut shares of Clearside Biomedical from a buy rating to a hold rating in a research note on Monday, August 16th. Finally, Roth Capital increased their price target on shares of Clearside Biomedical from $9.00 to $15.00 and gave the stock a buy rating in a research note on Friday, June 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Buy and an average price target of $11.85.

NASDAQ CLSD opened at $6.84 on Wednesday. The firm’s fifty day moving average price is $6.00 and its 200 day moving average price is $4.25. The company has a market capitalization of $406.84 million, a price-to-earnings ratio of -15.91 and a beta of 1.55. Clearside Biomedical has a 12 month low of $1.25 and a 12 month high of $7.73.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Monday, August 9th. The company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02. The firm had revenue of $0.78 million for the quarter, compared to the consensus estimate of $0.74 million. Clearside Biomedical had a negative net margin of 540.08% and a negative return on equity of 172.83%. As a group, equities analysts expect that Clearside Biomedical will post -0.22 earnings per share for the current year.

In related news, major shareholder Bradford T. Whitmore sold 99,400 shares of the stock in a transaction on Monday, August 30th. The shares were sold at an average price of $7.06, for a total transaction of $701,764.00. Following the completion of the sale, the insider now owns 3,529,845 shares in the company, valued at approximately $24,920,705.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 321,488 shares of company stock valued at $2,227,836. 11.30% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its stake in shares of Clearside Biomedical by 208.3% in the 2nd quarter. Advisor Group Holdings Inc. now owns 7,400 shares of the company’s stock worth $36,000 after acquiring an additional 5,000 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Clearside Biomedical by 50.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,500 shares of the company’s stock worth $37,000 after acquiring an additional 2,500 shares during the period. Northeast Financial Consultants Inc acquired a new stake in shares of Clearside Biomedical in the 1st quarter worth $25,000. Goldman Sachs Group Inc. purchased a new position in shares of Clearside Biomedical in the 2nd quarter valued at about $82,000. Finally, Barclays PLC purchased a new position in shares of Clearside Biomedical in the 1st quarter valued at about $42,000. Institutional investors own 33.06% of the company’s stock.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc is a biopharmaceutical company, which engages in the development of drug therapies to treat blinding diseases of the eye. Its pipeline includes Suprachoroidal CLS-TA, Suprachoroidal, Suprachoroidal CLS-TA, and gene therapy. The company was founded by Samir Kumar Patel, Vladimir Zarnitsyn, Mark Prausnitz, Daniel H.

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Analyst Recommendations for Clearside Biomedical (NASDAQ:CLSD)

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