JPMorgan Chase & Co. lowered shares of Clearside Biomedical (NASDAQ:CLSD) from an overweight rating to an underweight rating in a report released on Monday morning, MarketBeat reports.
Other research analysts have also recently issued reports about the company. BidaskClub cut Clearside Biomedical from a buy rating to a hold rating in a research note on Friday, July 20th. Zacks Investment Research upgraded Clearside Biomedical from a sell rating to a hold rating in a research note on Monday, August 13th. Laidlaw assumed coverage on Clearside Biomedical in a research note on Monday, July 16th. They issued a buy rating and a $18.00 price objective for the company. Finally, Wedbush set a $29.00 target price on Clearside Biomedical and gave the stock a buy rating in a report on Tuesday, October 23rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Clearside Biomedical has an average rating of Hold and an average target price of $12.71.
Shares of NASDAQ:CLSD opened at $1.94 on Monday. Clearside Biomedical has a 52-week low of $1.90 and a 52-week high of $15.33. The stock has a market capitalization of $71.09 million, a PE ratio of -0.83 and a beta of -3.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.94 and a quick ratio of 7.94.
Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Thursday, November 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.12). As a group, equities analysts predict that Clearside Biomedical will post -2.49 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in Clearside Biomedical by 712.5% during the third quarter. JPMorgan Chase & Co. now owns 289,626 shares of the company’s stock worth $1,781,000 after acquiring an additional 253,981 shares during the period. Engineers Gate Manager LP acquired a new stake in Clearside Biomedical during the third quarter worth about $202,000. Russell Investments Group Ltd. grew its holdings in Clearside Biomedical by 102.7% during the third quarter. Russell Investments Group Ltd. now owns 158,931 shares of the company’s stock worth $977,000 after acquiring an additional 80,540 shares during the period. Alps Advisors Inc. grew its holdings in Clearside Biomedical by 22.3% during the third quarter. Alps Advisors Inc. now owns 56,670 shares of the company’s stock worth $349,000 after acquiring an additional 10,315 shares during the period. Finally, Northern Trust Corp grew its holdings in Clearside Biomedical by 28.1% during the second quarter. Northern Trust Corp now owns 311,755 shares of the company’s stock worth $3,333,000 after acquiring an additional 68,357 shares during the period. 62.23% of the stock is currently owned by hedge funds and other institutional investors.
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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