Clearside Biomedical (NASDAQ:CLSD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks.com reports. The brokerage currently has a $1.50 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 17.19% from the stock’s current price.
According to Zacks, “Clearside Biomedical, Inc. is a biopharmaceutical company is engaged in developing first-in-class drug therapies to treat blinding diseases of the eye using Clearside proprietary suprachoroidal space(TM) microinjector. Its products include CLS-1001 for the treatment of macular edema associated with non-infectious uveitis; CLS-1003 for the treatment of macular edema associated with retinal vein occlusion; and CLS-1002 program for the treatment of wet age-related macular degeneration. Clearside Biomedical, Inc. is headquartered in Alpharetta, Georgia. “
Other analysts have also recently issued research reports about the stock. Wedbush restated a “buy” rating and set a $4.00 price objective on shares of Clearside Biomedical in a research report on Tuesday, August 6th. Needham & Company LLC cut shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. JMP Securities lowered their price objective on shares of Clearside Biomedical from $12.00 to $4.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, ValuEngine upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $3.79.
NASDAQ CLSD opened at $1.28 on Monday. Clearside Biomedical has a 1 year low of $0.95 and a 1 year high of $7.49. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.61. The stock has a market cap of $49.63 million, a PE ratio of -0.48 and a beta of -0.88. The business has a 50 day moving average price of $1.12.
Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Wednesday, August 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.22. The firm had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.05 million. On average, analysts forecast that Clearside Biomedical will post -1.27 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of CLSD. Two Sigma Investments LP raised its position in Clearside Biomedical by 118.9% in the 4th quarter. Two Sigma Investments LP now owns 208,155 shares of the company’s stock worth $223,000 after purchasing an additional 113,046 shares during the period. Parallel Advisors LLC purchased a new position in Clearside Biomedical in the 1st quarter worth $87,000. Virtu Financial LLC raised its position in Clearside Biomedical by 29.5% in the 1st quarter. Virtu Financial LLC now owns 69,027 shares of the company’s stock worth $95,000 after purchasing an additional 15,712 shares during the period. Deutsche Bank AG grew its holdings in Clearside Biomedical by 487.2% in the 4th quarter. Deutsche Bank AG now owns 536,761 shares of the company’s stock worth $573,000 after acquiring an additional 445,346 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Clearside Biomedical by 32.8% in the 4th quarter. Bank of New York Mellon Corp now owns 111,970 shares of the company’s stock worth $120,000 after acquiring an additional 27,652 shares during the last quarter. Hedge funds and other institutional investors own 15.89% of the company’s stock.
Clearside Biomedical Company Profile
Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to restore and preserve vision for people with serious eye diseases. It develops XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of macular edema associated with uveitis, diabetic macular edema, and macular edema associated with retinal vein occlusion.
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