Clearside Biomedical’s (CLSD) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $6.00 price objective on the stock.

CLSD has been the topic of several other research reports. StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Clearside Biomedical in a research report on Tuesday, August 27th. Finally, Chardan Capital reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Monday, October 14th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.33.

Clearside Biomedical Stock Down 5.7 %

Clearside Biomedical stock opened at $0.99 on Wednesday. The company’s 50-day moving average price is $1.19 and its two-hundred day moving average price is $1.19. The stock has a market cap of $75.08 million, a P/E ratio of -2.20 and a beta of 2.33. Clearside Biomedical has a twelve month low of $0.90 and a twelve month high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate 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 period in the previous year, the company posted ($0.15) EPS. Equities analysts anticipate that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Insider Transactions at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong acquired 36,500 shares of Clearside Biomedical stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $1.00 per share, with a total value of $36,500.00. Following the purchase, the insider now owns 100,000 shares in the company, valued at $100,000. This trade represents a 57.48 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.20% of the stock is owned by company insiders.

Institutional Trading of Clearside Biomedical

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Clearside Biomedical by 14.5% in 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 in the last quarter. Geode Capital Management LLC increased its position in Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after buying an additional 59,089 shares in the last quarter. Renaissance Technologies LLC raised its stake in Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after buying an additional 35,900 shares during the period. Assenagon Asset Management S.A. acquired a new position in Clearside Biomedical during the 2nd quarter worth approximately $368,000. Finally, Johnson & Johnson bought a new position in Clearside Biomedical in the third quarter worth approximately $105,000. Institutional investors and hedge funds 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.