Equities researchers at Janney Montgomery Scott started coverage on shares of Clearside Biomedical (NASDAQ:CLSD) in a research report issued to clients and investors on Thursday. The brokerage set a “buy” rating on the stock.
Other equities analysts also recently issued research reports about the company. ValuEngine upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. JMP Securities set a $25.00 target price on Clearside Biomedical and gave the stock a “buy” rating in a research report on Saturday, June 9th. BidaskClub downgraded Clearside Biomedical from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 8th. Wedbush restated an “outperform” rating and set a $29.00 target price on shares of Clearside Biomedical in a research report on Friday, May 11th. Finally, Needham & Company LLC raised their price target on Clearside Biomedical from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $20.80.
Clearside Biomedical stock opened at $10.69 on Thursday. The company has a quick ratio of 7.46, a current ratio of 7.46 and a debt-to-equity ratio of 0.05. The company has a market cap of $343.11 million, a P/E ratio of -4.59 and a beta of -7.22. Clearside Biomedical has a one year low of $5.30 and a one year high of $15.33.
Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Wednesday, May 9th. The company reported ($0.62) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.05). Clearside Biomedical had a negative return on equity of 131.37% and a negative net margin of 17,094.20%. equities research analysts forecast that Clearside Biomedical will post -2.39 EPS for the current fiscal year.
In related news, Director Clay Thorp sold 161,139 shares of the firm’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $13.08, for a total transaction of $2,107,698.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel H. White purchased 11,000 shares of the company’s stock in a transaction that occurred on Monday, June 4th. The shares were acquired at an average cost of $9.07 per share, with a total value of $99,770.00. Following the completion of the acquisition, the insider now directly owns 472,335 shares in the company, valued at $4,284,078.45. The disclosure for this purchase can be found here. Company insiders own 15.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new stake in Clearside Biomedical during the 1st quarter valued at $117,000. Paloma Partners Management Co acquired a new stake in shares of Clearside Biomedical in the 4th quarter valued at $124,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Clearside Biomedical in the 1st quarter valued at $132,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Clearside Biomedical in the 1st quarter valued at $152,000. Finally, DRW Securities LLC acquired a new stake in shares of Clearside Biomedical in the 1st quarter valued at $161,000. 61.48% of the stock is owned by hedge funds and other institutional investors.
About Clearside Biomedical
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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