Clearside Biomedical (NASDAQ:CLSD) Stock Rating Reaffirmed by Wedbush

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reissued by investment analysts at Wedbush in a research report issued on Monday, AnalystRatings.com reports. They currently have a $3.00 price target on the stock. Wedbush’s target price indicates a potential upside of 279.75% from the company’s current price.

Other research analysts have also issued research reports about the company. Laidlaw lowered Clearside Biomedical from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Needham & Company LLC lowered Clearside Biomedical from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. ValuEngine raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered Clearside Biomedical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, JMP Securities set a $3.00 price target on Clearside Biomedical and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Clearside Biomedical has a consensus rating of “Hold” and a consensus price target of $3.43.

Shares of Clearside Biomedical stock opened at $0.79 on Monday. The business’s 50 day simple moving average is $0.73 and its 200 day simple moving average is $1.03. Clearside Biomedical has a 52-week low of $0.56 and a 52-week high of $6.27. The firm has a market cap of $31.26 million, a PE ratio of -0.29 and a beta of -0.57. The company has a debt-to-equity ratio of 0.69, a quick ratio of 3.47 and a current ratio of 3.47.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Wednesday, August 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.22. The firm had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.05 million. As a group, equities research analysts predict that Clearside Biomedical will post -0.91 EPS for the current year.

Large investors have recently bought and sold shares of the business. A.R.T. Advisors LLC acquired a new position in shares of Clearside Biomedical during the 2nd quarter worth approximately $95,000. Jane Street Group LLC acquired a new position in shares of Clearside Biomedical during the 2nd quarter worth approximately $98,000. Paloma Partners Management Co acquired a new position in shares of Clearside Biomedical during the 2nd quarter worth approximately $122,000. Finally, Vanguard Group Inc. increased its holdings in shares of Clearside Biomedical by 66.9% during the 2nd quarter. Vanguard Group Inc. now owns 924,485 shares of the company’s stock worth $899,000 after acquiring an additional 370,690 shares during the last quarter. 11.95% of the stock is currently 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 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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Analyst Recommendations for Clearside Biomedical (NASDAQ:CLSD)

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