Clearside Biomedical (NASDAQ:CLSD) Receives “Buy” Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note published on Friday morning,Benzinga reports. They currently have a $6.00 price target on the stock.

Several other analysts have also recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Wednesday. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Thursday. Finally, StockNews.com cut shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Trading Down 5.7 %

CLSD stock traded down $0.06 during trading on Friday, reaching $0.99. 435,642 shares of the stock were exchanged, compared to its average volume of 400,971. Clearside Biomedical has a twelve month low of $0.90 and a twelve month high of $2.12. The company has a market capitalization of $75.08 million, a P/E ratio of -2.20 and a beta of 2.33. 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 results 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 the consensus estimate of $0.25 million. During the same quarter in the prior year, the business earned ($0.15) EPS. Equities analysts predict that Clearside Biomedical will post -0.56 EPS for the current year.

Insiders Place Their Bets

In other news, insider Ngai Hang Victor Chong acquired 36,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the acquisition, the insider now owns 100,000 shares in the company, valued at $100,000. This represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Clearside Biomedical during the 1st quarter worth approximately $49,000. XTX Topco Ltd increased its holdings in Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after buying an additional 34,359 shares during the last quarter. Johnson & Johnson bought a new stake in Clearside Biomedical during the third quarter worth $105,000. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical in the second quarter valued at $368,000. Finally, Renaissance Technologies LLC lifted its stake in Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after purchasing an additional 35,900 shares during the last quarter. Institutional investors 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.