Clearside Biomedical (NASDAQ:CLSD) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $6.00 price target on the stock.

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

Clearside Biomedical Stock Down 5.7 %

Shares of Clearside Biomedical stock traded down $0.06 during trading on Thursday, hitting $0.99. The stock had a trading volume of 409,984 shares, compared to its average volume of 400,856. The company has a market capitalization of $75.09 million, a PE ratio of -2.24 and a beta of 2.33. Clearside Biomedical has a 1 year low of $0.90 and a 1 year high of $2.12. The stock has a 50 day simple moving average of $1.19 and a 200 day simple moving average of $1.19.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. As a group, equities analysts expect that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Ngai Hang Victor Chong acquired 36,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the transaction, the insider now directly owns 100,000 shares in the company, valued at approximately $100,000. This represents a 57.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new position in Clearside Biomedical during the 2nd quarter worth approximately $368,000. Vanguard Group Inc. raised its holdings in shares of Clearside Biomedical by 14.5% during the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after purchasing an additional 314,480 shares during the period. SG Americas Securities LLC bought a new stake in Clearside Biomedical in the 1st quarter valued at about $49,000. XTX Topco Ltd boosted its holdings in Clearside Biomedical by 172.2% in the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after acquiring an additional 34,359 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings 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 valued at $757,000 after acquiring an additional 35,900 shares in the last quarter. 18.75% of the stock is owned by institutional investors and hedge funds.

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.