Needham & Company LLC set a $4.00 target price on Clearside Biomedical (NASDAQ:CLSD) in a research report report published on Tuesday morning. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on CLSD. ValuEngine upgraded Clearside Biomedical from a hold rating to a buy rating in a report on Tuesday. Cowen cut Clearside Biomedical from an outperform rating to a market perform rating in a report on Monday, November 5th. BidaskClub cut Clearside Biomedical from a buy rating to a hold rating in a report on Friday, July 20th. Zacks Investment Research cut Clearside Biomedical from a hold rating to a sell rating in a report on Tuesday, July 10th. Finally, Laidlaw assumed coverage on Clearside Biomedical in a report on Monday, July 16th. They issued a buy rating and a $18.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Clearside Biomedical presently has a consensus rating of Hold and an average target price of $12.71.

CLSD stock traded down $0.14 during trading on Tuesday, hitting $1.84. The stock had a trading volume of 707,532 shares, compared to its average volume of 703,408. The company has a current ratio of 7.94, a quick ratio of 7.94 and a debt-to-equity ratio of 0.15. Clearside Biomedical has a twelve month low of $1.83 and a twelve month high of $15.33. The stock has a market cap of $70.13 million, a price-to-earnings ratio of -0.79 and a beta of -3.98.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Thursday, November 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.12). As a group, equities analysts forecast that Clearside Biomedical will post -2.49 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLSD. Voya Investment Management LLC purchased a new position in Clearside Biomedical in the 2nd quarter worth approximately $123,000. Highland Capital Management LLC purchased a new position in Clearside Biomedical in the 2nd quarter worth approximately $128,000. Cubist Systematic Strategies LLC purchased a new position in Clearside Biomedical in the 1st quarter worth approximately $132,000. Dynamic Technology Lab Private Ltd purchased a new position in Clearside Biomedical in the 1st quarter worth approximately $152,000. Finally, Trustcore Financial Services LLC lifted its stake in Clearside Biomedical by 280.3% in the 2nd quarter. Trustcore Financial Services LLC now owns 14,585 shares of the company’s stock worth $156,000 after purchasing an additional 10,750 shares in the last quarter. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.

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Analyst Recommendations for Clearside Biomedical (NASDAQ:CLSD)

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