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

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $6.00 target price on the stock.

A number of other research firms have also commented on CLSD. Needham & Company LLC restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Wednesday. Chardan Capital restated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Monday, October 14th. Finally, StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Stock Performance

Shares of NASDAQ:CLSD opened at $0.99 on Thursday. The company’s fifty day moving average is $1.19 and its 200-day moving average is $1.19. Clearside Biomedical has a 52 week low of $0.90 and a 52 week high of $2.12. The company has a market capitalization of $75.08 million, a PE ratio of -2.20 and a beta of 2.33.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $1.04 million during the quarter, compared to analyst estimates of $0.25 million. During the same quarter last year, the firm earned ($0.15) earnings per share. On average, analysts forecast that Clearside Biomedical will post -0.56 EPS for the current year.

Insider Buying and Selling at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong acquired 36,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $1.00 per share, with a total value of $36,500.00. Following the acquisition, the insider now owns 100,000 shares of the company’s stock, valued at $100,000. This trade represents a 57.48 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Clearside Biomedical in the first quarter valued at approximately $49,000. XTX Topco Ltd raised its position in shares of Clearside Biomedical by 172.2% during the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after acquiring an additional 34,359 shares during the last quarter. Johnson & Johnson acquired a new position in shares of Clearside Biomedical in the 3rd quarter valued at $105,000. Assenagon Asset Management S.A. bought a new position in shares of Clearside Biomedical in the 2nd quarter worth $368,000. Finally, Renaissance Technologies LLC grew its stake in shares of Clearside Biomedical by 6.6% during the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after purchasing an additional 35,900 shares during the period. Institutional investors own 18.75% of the company’s stock.

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.