Chardan Capital Reaffirms “Buy” Rating for Clearside Biomedical (NASDAQ:CLSD)

Clearside Biomedical (NASDAQ:CLSDGet Free Report)‘s stock had its “buy” rating reissued by equities research analysts at Chardan Capital in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $6.00 price objective on the stock. Chardan Capital’s target price suggests a potential upside of 424.02% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC upped their price target on shares of Clearside Biomedical from $4.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Clearside Biomedical in a research note on Tuesday, August 27th. Finally, Oppenheimer initiated coverage on shares of Clearside Biomedical in a research note on Tuesday, June 25th. They set an “outperform” rating and a $5.00 price target on the stock. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.17.

View Our Latest Research Report on CLSD

Clearside Biomedical Stock Performance

Shares of Clearside Biomedical stock traded down $0.10 on Monday, hitting $1.15. 830,051 shares of the company traded hands, compared to its average volume of 394,016. The business has a 50-day simple moving average of $1.15 and a 200 day simple moving average of $1.23. Clearside Biomedical has a 52 week low of $0.65 and a 52 week high of $2.12. The stock has a market capitalization of $85.57 million, a P/E ratio of -2.08 and a beta of 2.35.

Clearside Biomedical (NASDAQ:CLSDGet Free Report) last issued its earnings results on Monday, August 12th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.25 million. During the same quarter in the prior year, the company posted ($0.15) EPS. Research analysts expect that Clearside Biomedical will post -0.56 earnings per share for the current year.

Institutional Investors Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Clearside Biomedical in the first quarter worth about $49,000. International Assets Investment Management LLC bought a new position in shares of Clearside Biomedical in the first quarter worth about $57,000. XTX Topco Ltd grew its holdings in shares of 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 purchasing an additional 34,359 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Clearside Biomedical in the second quarter worth about $368,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after purchasing an additional 35,900 shares during the last quarter. Hedge funds and other institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Clearside Biomedical (NASDAQ:CLSD)

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