Analysts Set Clearside Biomedical, Inc. (NASDAQ:CLSD) Target Price at $4.75

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been assigned an average rating of “Buy” from the four brokerages that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $4.75.

A number of equities research analysts recently weighed in on CLSD shares. Wedbush reaffirmed an “outperform” rating and set a $4.00 price target (down from $5.00) on shares of Clearside Biomedical in a report on Wednesday, March 13th. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, March 14th. StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $5.00 target price on shares of Clearside Biomedical in a research note on Wednesday, March 13th.

Insider Activity at Clearside Biomedical

In related news, major shareholder Bradford T. Whitmore acquired 444,444 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was acquired at an average price of $1.35 per share, for a total transaction of $599,999.40. Following the completion of the acquisition, the insider now owns 4,495,034 shares of the company’s stock, valued at approximately $6,068,295.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Bradford T. Whitmore acquired 444,444 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was acquired at an average price of $1.35 per share, for a total transaction of $599,999.40. Following the completion of the acquisition, the insider now owns 4,495,034 shares of the company’s stock, valued at approximately $6,068,295.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ngai Hang Victor Chong acquired 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was bought at an average price of $1.60 per share, with a total value of $48,000.00. Following the acquisition, the insider now directly owns 30,000 shares of the company’s stock, valued at approximately $48,000. The disclosure for this purchase can be found here. 9.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLSD. Synovus Financial Corp grew its stake in Clearside Biomedical by 166.6% in the first 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 period. Mackenzie Financial Corp acquired a new position in Clearside Biomedical in the first quarter valued at about $27,000. XTX Topco Ltd grew its stake in Clearside Biomedical by 125.6% in the first quarter. XTX Topco Ltd now owns 50,947 shares of the company’s stock valued at $117,000 after acquiring an additional 28,366 shares during the period. Renaissance Technologies LLC grew its stake in Clearside Biomedical by 101.5% in the first 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 period. Finally, State Street Corp grew its stake in Clearside Biomedical by 5.2% in the first quarter. State Street Corp now owns 193,363 shares of the company’s stock valued at $443,000 after acquiring an additional 9,475 shares during the period. 18.75% of the stock is owned by institutional investors and hedge funds.

Clearside Biomedical Price Performance

CLSD stock opened at $1.67 on Friday. The business has a fifty day moving average price of $1.44 and a 200 day moving average price of $1.15. Clearside Biomedical has a fifty-two week low of $0.65 and a fifty-two week high of $2.12. The stock has a market capitalization of $124.78 million, a price-to-earnings ratio of -3.15 and a beta of 2.28.

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.