Analysts Set Clearside Biomedical, Inc. (NASDAQ:CLSD) PT at $63.00

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $63.00.

Several research analysts have recently commented on CLSD shares. Wall Street Zen upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Clearside Biomedical in a research report on Tuesday, November 18th. Finally, Weiss Ratings started coverage on Clearside Biomedical in a research note on Saturday, November 1st. They set a “sell (e+)” rating on the stock.

Clearside Biomedical Stock Down 36.4%

NASDAQ CLSD opened at $0.36 on Monday. The company’s 50 day moving average is $2.40 and its 200-day moving average is $5.88. Clearside Biomedical has a 12-month low of $0.37 and a 12-month high of $17.10. The firm has a market cap of $1.87 million, a P/E ratio of -0.06 and a beta of 2.04.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Friday, November 14th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.47). The business had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.09 million. Equities analysts expect that Clearside Biomedical will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Clearside Biomedical

An institutional investor recently bought a new position in Clearside Biomedical stock. Apollon Wealth Management LLC purchased a new stake in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 23,586 shares of the company’s stock, valued at approximately $94,000. Apollon Wealth Management LLC owned 0.45% of Clearside Biomedical at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.75% of the company’s stock.

About Clearside Biomedical

Clearside Biomedical, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for diseases affecting the back of the eye. The company’s proprietary SCS Microinjector® platform enables targeted delivery of therapeutics into the suprachoroidal space, a potential route to enhance local drug exposure while minimizing off-target effects. Clearside’s approach is designed to address a range of retinal disorders by directly depositing medication adjacent to choroid and retina.

The company’s lead approved product is XIPERE® (triamcinolone acetonide injectable suspension), which has received U.S.