Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Consensus Rating of “Buy” from Analysts

Clearside Biomedical, Inc. (NASDAQ:CLSD) has earned an average recommendation of “Buy” from the four research firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $4.75.

A number of brokerages recently weighed in on CLSD. JMP Securities restated a “market outperform” rating and set a $5.00 price objective on shares of Clearside Biomedical in a research note on Wednesday, March 13th. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. Wedbush restated an “outperform” rating and set a $4.00 price objective (down from $5.00) on shares of Clearside Biomedical in a research note on Wednesday, March 13th. Finally, HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, March 14th.

Clearside Biomedical Trading Down 8.4 %

CLSD opened at $1.53 on Friday. Clearside Biomedical has a 12-month low of $0.65 and a 12-month high of $2.12. The business’s fifty day simple moving average is $1.45 and its 200-day simple moving average is $1.16. The company has a market capitalization of $114.32 million, a price-to-earnings ratio of -2.89 and a beta of 2.28.

Insider Buying and Selling at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 30,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was bought at an average cost of $1.60 per share, for a total transaction of $48,000.00. Following the completion of the purchase, the insider now owns 30,000 shares in the company, valued at approximately $48,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Bradford T. Whitmore acquired 444,444 shares of Clearside Biomedical stock in a transaction dated Wednesday, February 7th. The stock was purchased at an average cost of $1.35 per share, for a total transaction of $599,999.40. Following the completion of the purchase, the insider now directly owns 4,495,034 shares in the company, valued at approximately $6,068,295.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ngai Hang Victor Chong acquired 30,000 shares of Clearside Biomedical stock in a transaction dated Wednesday, March 20th. The stock was purchased at an average price of $1.60 per share, with a total value of $48,000.00. Following the completion of the purchase, the insider now owns 30,000 shares of the company’s stock, valued at $48,000. The disclosure for this purchase can be found here. 9.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLSD. Synovus Financial Corp raised its stake in shares of Clearside Biomedical by 166.6% in the first quarter. Synovus Financial Corp now owns 74,851 shares of the company’s stock worth $171,000 after purchasing an additional 46,780 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Clearside Biomedical in the first quarter worth about $27,000. XTX Topco Ltd raised its stake in shares of Clearside Biomedical by 125.6% in the first quarter. XTX Topco Ltd now owns 50,947 shares of the company’s stock worth $117,000 after purchasing an additional 28,366 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Clearside Biomedical by 101.5% during the first quarter. Renaissance Technologies LLC now owns 864,951 shares of the company’s stock worth $1,981,000 after acquiring an additional 435,734 shares during the period. Finally, State Street Corp grew its holdings in Clearside Biomedical by 5.2% during the first quarter. State Street Corp now owns 193,363 shares of the company’s stock worth $443,000 after acquiring an additional 9,475 shares during the period. 18.75% of the stock is currently owned by hedge funds and other institutional investors.

About Clearside Biomedical

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.