Clearside Biomedical, Inc. (NASDAQ:CLSD) Given Average Recommendation of “Buy” by Analysts

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have received a consensus recommendation of “Buy” from the four ratings firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $4.75.

Several research firms recently weighed in on CLSD. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, February 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 target price on shares of Clearside Biomedical in a research note on Wednesday, March 13th. Wedbush reaffirmed an “outperform” rating and issued a $4.00 target price (down previously from $5.00) on shares of Clearside Biomedical in a research note on Wednesday, March 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, March 14th.

Clearside Biomedical Trading Down 8.4 %

CLSD stock opened at $1.53 on Friday. The company’s 50 day moving average is $1.45 and its 200 day moving average is $1.16. The stock has a market cap of $114.32 million, a price-to-earnings ratio of -2.89 and a beta of 2.28. Clearside Biomedical has a 1-year low of $0.65 and a 1-year high of $2.12.

Insider Activity

In related news, major shareholder Bradford T. Whitmore acquired 444,444 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was purchased at an average price of $1.35 per share, with a total value of $599,999.40. Following the completion of the purchase, the insider now owns 4,495,034 shares in the company, valued at approximately $6,068,295.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Bradford T. Whitmore acquired 444,444 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was purchased at an average price of $1.35 per share, with a total value of $599,999.40. Following the completion of the purchase, the insider now owns 4,495,034 shares in the company, valued at approximately $6,068,295.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ngai Hang Victor Chong acquired 30,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were bought at an average cost of $1.60 per share, with a total value of $48,000.00. Following the purchase, the insider now owns 30,000 shares of the company’s stock, valued at approximately $48,000. The disclosure for this purchase can be found here. Insiders own 9.80% of the company’s stock.

Hedge Funds Weigh In On Clearside Biomedical

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Clearside Biomedical by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 2,176,316 shares of the company’s stock valued at $2,546,000 after acquiring an additional 9,431 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Clearside Biomedical by 375.6% during the second quarter. Stifel Financial Corp now owns 60,544 shares of the company’s stock valued at $68,000 after acquiring an additional 47,814 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Clearside Biomedical by 1.9% during the second quarter. BlackRock Inc. now owns 813,310 shares of the company’s stock valued at $911,000 after acquiring an additional 14,789 shares in the last quarter. Balyasny Asset Management LLC bought a new position in shares of Clearside Biomedical during the third quarter valued at approximately $25,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Clearside Biomedical by 100.6% during the second quarter. JPMorgan Chase & Co. now owns 18,161 shares of the company’s stock valued at $27,000 after acquiring an additional 9,109 shares in the last quarter. Institutional investors own 18.75% of the company’s stock.

About Clearside Biomedical

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.