Clearside Biomedical, Inc. (NASDAQ:CLSD) has received an average recommendation of “Buy” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $21.60.
A number of brokerages have recently issued reports on CLSD. Zacks Investment Research downgraded Clearside Biomedical from a “buy” rating to a “hold” rating in a research report on Monday. ValuEngine raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Cowen and Company reissued a “buy” rating on shares of Clearside Biomedical in a report on Thursday, June 8th. JMP Securities began coverage on shares of Clearside Biomedical in a report on Thursday, May 25th. They set an “outperform” rating and a $21.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and set a $27.00 price objective on shares of Clearside Biomedical in a report on Thursday, April 20th.
In other Clearside Biomedical news, Director Clay Thorp sold 44,485 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $8.63, for a total value of $383,905.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel H. White sold 3,600 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $7.78, for a total transaction of $28,008.00. Following the completion of the sale, the chief executive officer now owns 504,067 shares of the company’s stock, valued at approximately $3,921,641.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 182,055 shares of company stock worth $1,478,538. Corporate insiders own 20.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of CLSD. Goldman Sachs Group Inc. boosted its position in Clearside Biomedical by 33.4% in the first quarter. Goldman Sachs Group Inc. now owns 43,852 shares of the company’s stock worth $348,000 after buying an additional 10,972 shares during the last quarter. Highbridge Capital Management LLC bought a new position in Clearside Biomedical during the first quarter worth $217,000. Renaissance Technologies LLC acquired a new position in shares of Clearside Biomedical during the first quarter valued at approximately $604,000. AWM Investment Company Inc. boosted its position in shares of Clearside Biomedical by 173.0% in the first quarter. AWM Investment Company Inc. now owns 341,217 shares of the company’s stock valued at $2,709,000 after buying an additional 216,217 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of Clearside Biomedical during the first quarter valued at approximately $1,720,000. 49.69% of the stock is owned by institutional investors and hedge funds.
Clearside Biomedical (NASDAQ CLSD) opened at 9.62 on Tuesday. The stock’s market cap is $243.39 million. The company’s 50 day moving average price is $8.14 and its 200 day moving average price is $8.03. Clearside Biomedical has a 12 month low of $5.44 and a 12 month high of $25.08.
Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Wednesday, May 10th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. The business had revenue of $0.01 million for the quarter. Clearside Biomedical had a negative return on equity of 53.20% and a negative net margin of 154,030.02%. Equities analysts forecast that Clearside Biomedical will post ($1.72) EPS for the current fiscal year.
Clearside Biomedical Company Profile
Clearside Biomedical, Inc is a clinical biopharmaceutical company developing first-in-class drug therapies to treat blinding diseases of the eye. The Company’s product candidates focus on diseases affecting the retina, which is the tissue that lines the inside of the eye and is primarily responsible for vision, and the choroid, which is the layer adjacent to the retina that supplies the retina with blood, oxygen and nourishment.
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