Clearside Biomedical (NASDAQ:CLSD) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a sell rating to a hold rating in a report published on Thursday morning.

A number of other brokerages also recently weighed in on CLSD. JMP Securities reissued a market outperform rating and issued a $5.00 price target on shares of Clearside Biomedical in a report on Tuesday, August 15th. Needham & Company LLC reissued a buy rating and set a $4.00 price objective on shares of Clearside Biomedical in a research note on Tuesday, August 15th. Wedbush reiterated an outperform rating and issued a $5.00 price target on shares of Clearside Biomedical in a research report on Tuesday, August 15th. Finally, HC Wainwright restated a buy rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Tuesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $5.00.

Clearside Biomedical Trading Down 3.9 %

NASDAQ CLSD opened at $0.92 on Thursday. The company has a 50-day moving average price of $0.86 and a two-hundred day moving average price of $1.02. Clearside Biomedical has a 52 week low of $0.65 and a 52 week high of $1.85. The stock has a market cap of $57.56 million, a price-to-earnings ratio of -1.51 and a beta of 2.17.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Monday, November 13th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.01. Clearside Biomedical had a negative net margin of 1,687.74% and a negative return on equity of 1,343.27%. The business had revenue of $0.86 million during the quarter, compared to the consensus estimate of $0.22 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. As a group, equities research analysts expect that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Insider Transactions at Clearside Biomedical

In other Clearside Biomedical news, major shareholder Bradford T. Whitmore bought 64,366 shares of the stock in a transaction on Wednesday, November 1st. The shares were bought at an average price of $0.74 per share, with a total value of $47,630.84. Following the purchase, the insider now directly owns 4,050,590 shares in the company, valued at approximately $2,997,436.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders acquired a total of 84,966 shares of company stock valued at $65,245 over the last quarter. Company insiders own 9.80% of the company’s stock.

Institutional Investors Weigh In On Clearside Biomedical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management LLC purchased a new position in shares of Clearside Biomedical during the 3rd quarter valued at $25,000. Stratos Wealth Partners LTD. acquired a new stake in Clearside Biomedical during the first quarter valued at $26,000. Mackenzie Financial Corp purchased a new position in Clearside Biomedical in the first quarter valued at about $27,000. JPMorgan Chase & Co. increased its position in Clearside Biomedical by 100.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 18,161 shares of the company’s stock worth $27,000 after purchasing an additional 9,109 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Clearside Biomedical during the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 13.70% 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. The company offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema.