Clearside Biomedical, Inc. (NASDAQ:CLSD) Given Average Recommendation of “Buy” by Analysts

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been given an average recommendation of “Buy” by the four brokerages that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have covered the stock in the last year is $4.75.

CLSD has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, March 14th. Wedbush reissued an “outperform” rating and set a $4.00 price objective (down from $5.00) on shares of Clearside Biomedical in a research note on Wednesday, March 13th. StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. JMP Securities reissued a “market outperform” rating and set a $5.00 price objective on shares of Clearside Biomedical in a research note on Wednesday, March 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 target price on shares of Clearside Biomedical in a research note on Thursday, April 11th.

Clearside Biomedical Trading Down 2.8 %

CLSD stock opened at $1.37 on Wednesday. The firm has a 50 day moving average of $1.45 and a 200-day moving average of $1.22. Clearside Biomedical has a 12-month low of $0.65 and a 12-month high of $2.12. The company has a market cap of $102.37 million, a price-to-earnings ratio of -2.58 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The company had revenue of $6.35 million for the quarter, compared to analyst estimates of $3.40 million. Sell-side analysts forecast that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ngai Hang Victor Chong bought 30,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was purchased at an average cost of $1.60 per share, with a total value of $48,000.00. Following the purchase, the insider now owns 30,000 shares of the company’s stock, valued at $48,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Ngai Hang Victor Chong purchased 30,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were bought at an average price of $1.60 per share, for a total transaction of $48,000.00. Following the acquisition, the insider now directly owns 30,000 shares in the company, valued at $48,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bradford T. Whitmore purchased 444,444 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was bought at an average price of $1.35 per share, for a total transaction of $599,999.40. Following the acquisition, the insider now owns 4,495,034 shares in the company, valued at $6,068,295.90. The disclosure for this purchase can be found here. In the last three months, insiders bought 481,154 shares of company stock valued at $656,387. Company insiders own 9.80% of the company’s stock.

Hedge Funds Weigh In On Clearside Biomedical

A hedge fund recently bought a new stake in Clearside Biomedical stock. International Assets Investment Management LLC purchased a new stake in Clearside Biomedical, Inc. (NASDAQ:CLSD) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 36,000 shares of the company’s stock, valued at approximately $57,000. 18.75% of the stock is currently owned by institutional investors and hedge funds.

About Clearside Biomedical

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.