Clearside Biomedical (NASDAQ:CLSD) Receives Hold Rating from Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports.

Several other equities research analysts have also issued reports on the stock. Wall Street Zen raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings initiated coverage on Clearside Biomedical in a report on Saturday, November 1st. They set a “sell (e+)” rating for the company. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Clearside Biomedical currently has an average rating of “Hold” and a consensus price target of $63.00.

Clearside Biomedical Trading Down 0.7%

CLSD traded down $0.03 during midday trading on Tuesday, reaching $3.32. The company’s stock had a trading volume of 4,547 shares, compared to its average volume of 103,638. The firm has a market capitalization of $17.36 million, a price-to-earnings ratio of -0.60 and a beta of 2.04. The stock’s 50-day moving average is $4.03 and its 200-day moving average is $7.79. Clearside Biomedical has a 1 year low of $3.31 and a 1 year high of $17.10.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Friday, November 14th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.47). The firm had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $0.09 million. As a group, equities research analysts forecast that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Clearside Biomedical stock. Apollon Wealth Management LLC bought a new stake in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,586 shares of the company’s stock, valued at approximately $94,000. Apollon Wealth Management LLC owned about 0.45% of Clearside Biomedical as of its most recent SEC filing. 18.75% of the stock is currently owned by hedge funds and other institutional investors.

Clearside Biomedical Company Profile

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.