Clearside Biomedical (NASDAQ:CLSD) Price Target Increased to $6.00 by Analysts at Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD) had its price target raised by Needham & Company LLC from $4.00 to $6.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently weighed in on CLSD. Oppenheimer assumed coverage on Clearside Biomedical in a report on Tuesday, June 25th. They set an outperform rating and a $5.00 price target for the company. Chardan Capital started coverage on Clearside Biomedical in a report on Wednesday, August 21st. They issued a buy rating and a $6.00 price objective on the stock. Finally, HC Wainwright reaffirmed a buy rating and issued a $5.00 target price on shares of Clearside Biomedical in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $5.17.

Clearside Biomedical Stock Performance

Shares of NASDAQ CLSD opened at $1.24 on Thursday. Clearside Biomedical has a fifty-two week low of $0.65 and a fifty-two week high of $2.12. The stock’s 50-day simple moving average is $1.15 and its 200-day simple moving average is $1.23. The firm has a market capitalization of $92.67 million, a PE ratio of -2.25 and a beta of 2.35.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Monday, August 12th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter last year, the firm posted ($0.15) EPS. On average, sell-side analysts forecast that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. XTX Topco Ltd raised its stake in shares of Clearside Biomedical by 172.2% in the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after acquiring an additional 34,359 shares during the period. Renaissance Technologies LLC boosted its position in shares of Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after buying an additional 35,900 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical in the second quarter valued at about $368,000. Vanguard Group Inc. raised its holdings in shares of Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after buying an additional 314,480 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Clearside Biomedical during the 1st quarter worth approximately $49,000. Hedge funds and other institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Company Profile

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.