Clearside Biomedical, Inc. (CLSD) Lowered to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) from a hold rating to a sell rating in a research note released on Monday morning.
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. “
Several other brokerages have also issued reports on CLSD. Cowen and Company reiterated a buy rating on shares of Clearside Biomedical in a research report on Monday, August 7th. ValuEngine lowered shares of Clearside Biomedical from a hold rating to a sell rating in a research report on Thursday, August 10th. Finally, TheStreet lowered shares of Clearside Biomedical from a c- rating to a d rating in a research report on Friday, August 11th. Two analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $18.33.
Clearside Biomedical (NASDAQ:CLSD) traded up $0.08 during trading on Monday, hitting $7.38. 82,800 shares of the stock traded hands, compared to its average volume of 154,169. Clearside Biomedical has a 52-week low of $5.44 and a 52-week high of $24.73. The company has a current ratio of 4.57, a quick ratio of 4.57 and a debt-to-equity ratio of 0.15.
Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Wednesday, November 8th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.17). Clearside Biomedical had a negative return on equity of 90.72% and a negative net margin of 17,684.07%. The firm had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.01 million. sell-side analysts anticipate that Clearside Biomedical will post -2.25 earnings per share for the current year.
In other Clearside Biomedical news, insider Daniel H. White sold 16,000 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $7.57, for a total transaction of $121,120.00. Following the completion of the sale, the insider now directly owns 486,935 shares in the company, valued at $3,686,097.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Clay Thorp sold 8,500 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $7.49, for a total transaction of $63,665.00. The disclosure for this sale can be found here. Insiders sold 98,000 shares of company stock valued at $776,655 over the last quarter. 20.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Nationwide Fund Advisors boosted its position in Clearside Biomedical by 118.3% during the second quarter. Nationwide Fund Advisors now owns 11,703 shares of the company’s stock valued at $107,000 after buying an additional 6,343 shares during the period. Citadel Advisors LLC purchased a new stake in Clearside Biomedical during the second quarter valued at about $117,000. Parametric Portfolio Associates LLC purchased a new stake in Clearside Biomedical during the second quarter valued at about $122,000. Wells Fargo & Company MN boosted its position in Clearside Biomedical by 325.0% during the first quarter. Wells Fargo & Company MN now owns 16,739 shares of the company’s stock valued at $133,000 after buying an additional 12,800 shares during the period. Finally, ProShare Advisors LLC boosted its position in Clearside Biomedical by 4.0% during the second quarter. ProShare Advisors LLC now owns 14,814 shares of the company’s stock valued at $135,000 after buying an additional 563 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.
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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