ValuEngine downgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a hold rating to a sell rating in a report issued on Tuesday morning, ValuEngine reports.

Several other brokerages also recently commented on CLSD. Needham & Company LLC reiterated a hold rating on shares of Clearside Biomedical in a research report on Thursday, October 31st. Laidlaw cut Clearside Biomedical from a buy rating to a hold rating in a research note on Tuesday, August 13th. Zacks Investment Research downgraded Clearside Biomedical from a buy rating to a hold rating in a research report on Monday, November 11th. JMP Securities set a $3.00 price objective on Clearside Biomedical and gave the stock a buy rating in a research note on Thursday, August 22nd. Finally, Wedbush reiterated a buy rating and issued a $3.00 target price on shares of Clearside Biomedical in a report on Sunday, November 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $2.33.

CLSD stock opened at $1.72 on Tuesday. The company has a fifty day moving average price of $1.12 and a 200-day moving average price of $1.01. The company has a market capitalization of $59.26 million, a P/E ratio of -0.64 and a beta of -0.27. Clearside Biomedical has a 52-week low of $0.56 and a 52-week high of $1.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.22 and a current ratio of 2.22.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The business had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.05 million. Clearside Biomedical had a negative return on equity of 316.25% and a negative net margin of 18,893.49%. As a group, sell-side analysts forecast that Clearside Biomedical will post -0.84 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. A.R.T. Advisors LLC acquired a new position in Clearside Biomedical in the second quarter valued at $95,000. Jane Street Group LLC acquired a new stake in Clearside Biomedical during the 2nd quarter worth about $98,000. Paloma Partners Management Co acquired a new stake in Clearside Biomedical during the 2nd quarter worth about $122,000. Millennium Management LLC grew its holdings in Clearside Biomedical by 273.6% during the 3rd quarter. Millennium Management LLC now owns 280,533 shares of the company’s stock worth $176,000 after acquiring an additional 205,444 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Clearside Biomedical by 66.9% in the 2nd quarter. Vanguard Group Inc. now owns 924,485 shares of the company’s stock worth $899,000 after acquiring an additional 370,690 shares in the last quarter. 16.97% of the stock is owned by institutional investors and hedge funds.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to restore and preserve vision for people with serious eye diseases. It develops XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of macular edema associated with uveitis, diabetic macular edema, and macular edema associated with retinal vein occlusion.

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Analyst Recommendations for Clearside Biomedical (NASDAQ:CLSD)

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