Other equities analysts have also issued research reports about the stock. ValuEngine upgraded shares of Clearside Biomedical from a hold rating to a buy rating in a report on Tuesday. Laidlaw started coverage on shares of Clearside Biomedical in a report on Monday, July 16th. They set a buy rating and a $18.00 target price on the stock. Wedbush set a $29.00 target price on shares of Clearside Biomedical and gave the company a buy rating in a report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Clearside Biomedical from a sell rating to a hold rating in a report on Monday, August 13th. Finally, BidaskClub lowered shares of Clearside Biomedical from a buy rating to a hold rating in a report on Friday, July 20th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $12.71.
Shares of NASDAQ:CLSD traded down $0.12 during midday trading on Tuesday, hitting $1.86. 16,670 shares of the company’s stock traded hands, compared to its average volume of 647,137. The company has a current ratio of 7.94, a quick ratio of 7.94 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $71.09 million, a price-to-earnings ratio of -0.81 and a beta of -3.98. Clearside Biomedical has a twelve month low of $1.90 and a twelve month high of $15.33.
Institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC purchased a new stake in Clearside Biomedical during the 2nd quarter worth $123,000. BlackRock Inc. increased its stake in Clearside Biomedical by 53.1% during the 2nd quarter. BlackRock Inc. now owns 1,859,948 shares of the company’s stock worth $19,883,000 after buying an additional 645,292 shares during the period. Point72 Asset Management L.P. purchased a new stake in Clearside Biomedical during the 2nd quarter worth $2,138,000. Alps Advisors Inc. purchased a new stake in Clearside Biomedical during the 2nd quarter worth $496,000. Finally, GSA Capital Partners LLP purchased a new stake in Clearside Biomedical during the 2nd quarter worth $534,000. 62.23% of the stock is currently owned by hedge funds and other institutional investors.
About Clearside Biomedical
Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.
Read More: Why Dividend Stocks May Be Right for You
Receive News & Ratings for Clearside Biomedical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearside Biomedical and related companies with MarketBeat.com's FREE daily email newsletter.