Zacks Investment Research upgraded shares of Clearside Biomedical Inc (NASDAQ:CLSD) from a sell rating to a hold rating in a research report sent to investors on Monday.

According to Zacks, “Clearside Biomedical, Inc. is a biopharmaceutical company is engaged in developing first-in-class drug therapies to treat blinding diseases of the eye using Clearside proprietary suprachoroidal space(TM) microinjector. Its products include CLS-1001 for the treatment of macular edema associated with non-infectious uveitis; CLS-1003 for the treatment of macular edema associated with retinal vein occlusion; and CLS-1002 program for the treatment of wet age-related macular degeneration. Clearside Biomedical, Inc. is headquartered in Alpharetta, Georgia. “

CLSD has been the subject of several other reports. Wedbush restated an outperform rating and set a $28.00 target price on shares of Clearside Biomedical in a report on Thursday, August 11th. Needham & Company LLC began coverage on Clearside Biomedical in a report on Tuesday, June 28th. They set a buy rating and a $16.00 target price for the company. Stifel Nicolaus began coverage on Clearside Biomedical in a report on Monday, June 27th. They set a buy rating and a $13.00 target price for the company. Finally, Cowen and Company began coverage on Clearside Biomedical in a report on Monday, June 27th. They set an outperform rating for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $16.19.

Clearside Biomedical (NASDAQ:CLSD) opened at 11.88 on Monday. Clearside Biomedical has a 12 month low of $5.65 and a 12 month high of $12.00. The stock’s market cap is $244.07 million. The company’s 50 day moving average price is $7.67 and its 200 day moving average price is $7.18.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Thursday, August 11th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.32) by $0.30. Equities analysts forecast that Clearside Biomedical will post ($2.10) EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLSD. Perceptive Advisors LLC acquired a new position in Clearside Biomedical during the second quarter worth approximately $4,450,000. Marshall Wace LLP acquired a new position in Clearside Biomedical during the second quarter worth approximately $1,122,000. Iguana Healthcare Management LLC acquired a new position in Clearside Biomedical during the second quarter worth approximately $526,000. Finally, AWM Investment Company Inc. acquired a new position in Clearside Biomedical during the second quarter worth approximately $350,000.

About Clearside Biomedical

Clearside Biomedical, Inc is a late-stage clinical biopharmaceutical company. The Company is developing drug therapies to treat blinding diseases of the eye. The Company’s product candidates are focused on diseases affecting the retina and choroid, especially diseases associated with macular edema, and are injected into the suprachoroidal space (SCS) adjacent to the choroid, using its SCS Microinjector.

5 Day Chart for NASDAQ:CLSD

Get a free copy of the Zacks research report on Clearside Biomedical (CLSD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Clearside Biomedical Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearside Biomedical Inc and related companies with MarketBeat.com's FREE daily email newsletter.