Brokerages Set Clearside Biomedical Inc (NASDAQ:CLSD) PT at $4.50

Clearside Biomedical Inc (NASDAQ:CLSD) has been given a consensus rating of “Hold” by the six brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $4.50.

CLSD has been the subject of several research analyst reports. ValuEngine cut shares of Clearside Biomedical from a “sell” rating to a “strong sell” rating in a report on Friday, December 13th. Zacks Investment Research cut shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Wedbush reiterated a “buy” rating and issued a $5.00 price target on shares of Clearside Biomedical in a report on Tuesday, February 11th. Needham & Company LLC reiterated a “hold” rating on shares of Clearside Biomedical in a report on Thursday, October 31st. Finally, JMP Securities reiterated a “buy” rating and issued a $4.00 price target on shares of Clearside Biomedical in a report on Tuesday, December 17th.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Clearside Biomedical by 66.9% during the second quarter. Vanguard Group Inc. now owns 924,485 shares of the company’s stock worth $899,000 after purchasing an additional 370,690 shares during the last quarter. Millennium Management LLC boosted its holdings in Clearside Biomedical by 273.6% during the third quarter. Millennium Management LLC now owns 280,533 shares of the company’s stock worth $176,000 after purchasing an additional 205,444 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Clearside Biomedical by 12.6% during the fourth quarter. Geode Capital Management LLC now owns 276,035 shares of the company’s stock worth $800,000 after purchasing an additional 30,856 shares during the last quarter. Oxford Asset Management LLP acquired a new position in Clearside Biomedical during the fourth quarter worth $382,000. Finally, Renaissance Technologies LLC acquired a new position in Clearside Biomedical during the fourth quarter worth $257,000. Institutional investors and hedge funds own 15.96% of the company’s stock.

Shares of Clearside Biomedical stock traded down $0.06 on Friday, hitting $2.66. The company had a trading volume of 249,383 shares, compared to its average volume of 1,121,318. The firm has a market capitalization of $120.80 million, a P/E ratio of -1.83 and a beta of 0.05. Clearside Biomedical has a twelve month low of $0.56 and a twelve month high of $4.13. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.22 and a quick ratio of 2.22. The stock has a 50-day moving average of $2.77 and a 200-day moving average of $1.61.

About Clearside Biomedical

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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