Shares of Clearside Biomedical Inc (NASDAQ:CLSD) have been assigned an average rating of “Hold” from the eleven research firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $11.83.
CLSD has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded Clearside Biomedical from an “overweight” rating to an “underweight” rating in a report on Monday, November 5th. Stifel Nicolaus restated a “hold” rating and issued a $4.00 price target (down from $20.00) on shares of Clearside Biomedical in a report on Monday, November 5th. Wedbush set a $29.00 price target on Clearside Biomedical and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Janney Montgomery Scott set a $4.00 price target on Clearside Biomedical and gave the stock a “buy” rating in a report on Tuesday, November 6th. Finally, ValuEngine upgraded Clearside Biomedical from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th.
Shares of Clearside Biomedical stock traded up $0.04 during trading hours on Monday, hitting $1.24. The company’s stock had a trading volume of 4,292 shares, compared to its average volume of 306,756. Clearside Biomedical has a 12 month low of $1.22 and a 12 month high of $15.33. The company has a market capitalization of $41.63 million, a P/E ratio of -0.54 and a beta of -4.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.59 and a quick ratio of 4.59.
Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Thursday, November 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.12). On average, equities analysts anticipate that Clearside Biomedical will post -2.57 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of CLSD. Voya Investment Management LLC acquired a new position in shares of Clearside Biomedical during the second quarter worth about $123,000. Bank of America Corp DE boosted its position in shares of Clearside Biomedical by 915.6% during the second quarter. Bank of America Corp DE now owns 16,574 shares of the company’s stock worth $177,000 after buying an additional 14,942 shares during the period. Trexquant Investment LP acquired a new position in shares of Clearside Biomedical during the third quarter worth about $188,000. Engineers Gate Manager LP acquired a new position in shares of Clearside Biomedical during the third quarter worth about $202,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Clearside Biomedical during the third quarter worth about $216,000. 57.94% of the stock is owned by 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.
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