Needham & Company LLC Reaffirms "Buy" Rating for Clearside Biomedical (NASDAQ:CLSD)
Needham & Company LLC has reaffirmed a "buy" rating for Clearside Biomedical (NASDAQ:CLSD) with a target price of $4.00, indicating a potential upside of 373.20%. Other analysts have also rated the stock, with HC Wainwright and Chardan Capital setting price targets of $6.00. Clearside Biomedical's stock opened at $0.85, with a market cap of $65.21 million. The company reported earnings of ($0.10) per share, exceeding estimates. Institutional investors hold 18.75% of the stock, which focuses on delivering therapies for eye conditions.
Clearside Biomedical (NASDAQ:CLSD - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $4.00 price objective on the stock. Needham & Company LLC's target price points to a potential upside of 373.20% from the stock's previous close.
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CLSD has been the topic of a number of other reports. HC Wainwright restated a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Monday, March 31st. StockNews.com lowered shares of Clearside Biomedical from a "hold" rating to a "sell" rating in a research report on Tuesday, March 18th. Finally, Chardan Capital reiterated a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Friday, March 28th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Clearside Biomedical currently has a consensus rating of "Moderate Buy" and an average price target of $5.25.
View Our Latest Stock Report on CLSD
Clearside Biomedical Stock Performance
Shares of CLSD opened at $0.85 on Tuesday. Clearside Biomedical has a 1 year low of $0.77 and a 1 year high of $1.65. The stock has a market capitalization of $65.21 million, a P/E ratio of -1.88 and a beta of 2.04. The company's fifty day moving average is $0.96 and its two-hundred day moving average is $1.03.
Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03. The firm had revenue of $0.31 million for the quarter, compared to analysts' expectations of $0.27 million. Sell-side analysts predict that Clearside Biomedical will post -0.48 EPS for the current year.
Hedge Funds Weigh In On Clearside Biomedical
Hedge funds and other institutional investors have recently modified their holdings of the company. Investor s Fiduciary Advisor Network LLC acquired a new stake in Clearside Biomedical during the fourth quarter valued at approximately $32,000. Northern Trust Corp grew its holdings in Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company's stock valued at $157,000 after purchasing an additional 32,048 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Clearside Biomedical by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company's stock worth $726,000 after purchasing an additional 32,672 shares during the period. Institutional investors and hedge funds own 18.75% of the company's stock.
Clearside Biomedical Company Profile
(Get Free Report)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.
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