Clearside Biomedical, Inc. (CLSD) Rating Reiterated by Cowen and Company
Clearside Biomedical, Inc. (NASDAQ:CLSD)‘s stock had its “buy” rating reiterated by investment analysts at Cowen and Company in a research note issued on Monday.
Other analysts have also issued reports about the company. Zacks Investment Research raised Clearside Biomedical from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Tuesday, July 11th. Wedbush reaffirmed an “outperform” rating and issued a $27.00 target price on shares of Clearside Biomedical in a research report on Thursday, April 20th. ValuEngine raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Finally, JMP Securities assumed coverage on Clearside Biomedical in a research report on Thursday, May 25th. They issued an “outperform” rating and a $21.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $19.00.
Shares of Clearside Biomedical (NASDAQ:CLSD) opened at 7.96 on Monday. The company’s market capitalization is $201.39 million. The firm has a 50 day moving average price of $9.17 and a 200 day moving average price of $8.06. Clearside Biomedical has a one year low of $5.44 and a one year high of $25.08.
Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Wednesday, May 10th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. Clearside Biomedical had a negative return on equity of 53.20% and a negative net margin of 154,030.02%. The business had revenue of $0.01 million during the quarter. On average, equities research analysts predict that Clearside Biomedical will post ($1.72) EPS for the current fiscal year.
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In other Clearside Biomedical news, insider Daniel H. White sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $9.75, for a total transaction of $78,000.00. Following the completion of the sale, the insider now directly owns 499,967 shares of the company’s stock, valued at approximately $4,874,678.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel H. White sold 3,600 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $7.78, for a total value of $28,008.00. Following the sale, the chief executive officer now directly owns 504,067 shares of the company’s stock, valued at $3,921,641.26. The disclosure for this sale can be found here. Insiders have sold a total of 125,170 shares of company stock valued at $1,080,884 over the last three months. Corporate insiders own 20.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Marshall Wace North America L.P. raised its stake in shares of Clearside Biomedical by 1.9% in the second quarter. Marshall Wace North America L.P. now owns 218,960 shares of the company’s stock worth $1,971,000 after buying an additional 4,010 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Clearside Biomedical by 168.5% in the second quarter. Bank of New York Mellon Corp now owns 93,500 shares of the company’s stock worth $852,000 after buying an additional 58,677 shares in the last quarter. State of Wisconsin Investment Board bought a new stake in shares of Clearside Biomedical during the second quarter worth approximately $137,000. Rhumbline Advisers bought a new stake in shares of Clearside Biomedical during the second quarter worth approximately $198,000. Finally, Granite Investment Partners LLC raised its stake in shares of Clearside Biomedical by 74.8% in the second quarter. Granite Investment Partners LLC now owns 92,941 shares of the company’s stock worth $847,000 after buying an additional 39,765 shares in the last quarter. 49.67% of the stock is owned by hedge funds and other institutional investors.
Clearside Biomedical Company Profile
Clearside Biomedical, Inc is a clinical biopharmaceutical company developing first-in-class drug therapies to treat blinding diseases of the eye. The Company’s product candidates focus on diseases affecting the retina, which is the tissue that lines the inside of the eye and is primarily responsible for vision, and the choroid, which is the layer adjacent to the retina that supplies the retina with blood, oxygen and nourishment.
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