Clearside Biomedical, Inc. (NASDAQ:CLSD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD – Get Rating) have earned an average rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $7.60.

Several equities analysts have recently commented on CLSD shares. Needham & Company LLC raised Clearside Biomedical from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Thursday, November 10th. StockNews.com initiated coverage on Clearside Biomedical in a report on Friday, November 4th. They issued a “hold” rating on the stock. Stifel Nicolaus upgraded Clearside Biomedical from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Wednesday, November 9th. Finally, HC Wainwright boosted their price objective on Clearside Biomedical from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, November 10th.

Insider Activity at Clearside Biomedical

In related news, Director Nancy J. Hutson purchased 30,000 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were bought at an average price of $1.33 per share, for a total transaction of $39,900.00. Following the acquisition, the director now directly owns 83,000 shares in the company, valued at $110,390. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Nancy J. Hutson purchased 30,000 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were bought at an average price of $1.33 per share, for a total transaction of $39,900.00. Following the acquisition, the director now directly owns 83,000 shares in the company, valued at $110,390. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George M. Lasezkay sold 20,030 shares of the company’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $1.46, for a total value of $29,243.80. Following the sale, the chief executive officer now owns 484,577 shares in the company, valued at approximately $707,482.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,930 shares of company stock worth $73,943. 12.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clearside Biomedical

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its holdings in shares of Clearside Biomedical by 101.5% in the 1st quarter. Renaissance Technologies LLC now owns 864,951 shares of the company’s stock valued at $1,981,000 after acquiring an additional 435,734 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Clearside Biomedical by 2,760.2% in the 1st quarter. Bank of America Corp DE now owns 120,500 shares of the company’s stock valued at $276,000 after acquiring an additional 116,287 shares during the last quarter. Lincoln National Corp purchased a new position in shares of Clearside Biomedical in the 3rd quarter valued at about $104,000. Jane Street Group LLC increased its holdings in shares of Clearside Biomedical by 314.7% in the 1st quarter. Jane Street Group LLC now owns 86,216 shares of the company’s stock valued at $197,000 after acquiring an additional 65,424 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Clearside Biomedical by 166.6% in the 1st quarter. Synovus Financial Corp now owns 74,851 shares of the company’s stock valued at $171,000 after acquiring an additional 46,780 shares during the last quarter. Hedge funds and other institutional investors own 20.07% of the company’s stock.

Clearside Biomedical Stock Up 2.0 %

Shares of Clearside Biomedical stock opened at $1.50 on Monday. Clearside Biomedical has a 52 week low of $0.98 and a 52 week high of $2.85. The business’s fifty day simple moving average is $1.27 and its 200-day simple moving average is $1.35. The firm has a market cap of $90.29 million, a PE ratio of -18.75 and a beta of 1.83.

Clearside Biomedical (NASDAQ:CLSD – Get Rating) last announced its quarterly earnings results on Wednesday, November 9th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.17). Clearside Biomedical had a negative net margin of 17.15% and a negative return on equity of 16.13%. The business had revenue of $0.27 million during the quarter, compared to analyst estimates of $16.50 million. As a group, equities analysts expect that Clearside Biomedical will post -0.52 earnings per share for the current year.

Clearside Biomedical Company Profile

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Clearside Biomedical, Inc is a biopharmaceutical company, which delivers therapies to the back of the eye through the suprachoroidal space. Its pipeline include CLS-AX, Integrin Inhibitor, and gene therapy. The company was founded by Samir Kumar Patel, Vladimir Zarnitsyn, Mark Prausnitz, Daniel H. White, and Henry F.