ValuEngine upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a hold rating to a buy rating in a report issued on Tuesday morning.
CLSD has been the subject of a number of other reports. Zacks Investment Research raised Clearside Biomedical from a sell rating to a hold rating in a report on Monday, August 13th. Wedbush set a $29.00 price objective on Clearside Biomedical and gave the stock a buy rating in a report on Wednesday, August 8th. Cowen lowered Clearside Biomedical from an outperform rating to a market perform rating in a report on Monday, November 5th. BidaskClub lowered Clearside Biomedical from a buy rating to a hold rating in a report on Friday, July 20th. Finally, Laidlaw began coverage on Clearside Biomedical in a report on Monday, July 16th. They issued a buy rating and a $18.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $12.71.
Shares of CLSD stock opened at $1.84 on Tuesday. Clearside Biomedical has a 12-month low of $1.83 and a 12-month high of $15.33. The company has a market capitalization of $71.09 million, a P/E ratio of -0.79 and a beta of -3.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.94 and a quick ratio of 7.94.
A number of hedge funds and other institutional investors have recently modified their holdings of CLSD. Voya Investment Management LLC bought a new position in Clearside Biomedical during the 2nd quarter valued at $123,000. Highland Capital Management LLC bought a new position in Clearside Biomedical during the 2nd quarter valued at $128,000. Cubist Systematic Strategies LLC bought a new position in Clearside Biomedical during the 1st quarter valued at $132,000. Dynamic Technology Lab Private Ltd bought a new position in Clearside Biomedical during the 1st quarter valued at $152,000. Finally, Trustcore Financial Services LLC boosted its stake in Clearside Biomedical by 280.3% during the 2nd quarter. Trustcore Financial Services LLC now owns 14,585 shares of the company’s stock valued at $156,000 after purchasing an additional 10,750 shares in the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.
Clearside Biomedical Company Profile
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.
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