Needham & Company LLC Analysts Give Clearside Biomedical (CLSD) a $4.00 Price Target

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Needham & Company LLC set a $4.00 price objective on Clearside Biomedical (NASDAQ:CLSD) in a report issued on Tuesday morning. The firm currently has a buy rating on the stock.

Several other equities analysts also recently commented on CLSD. ValuEngine upgraded shares of Clearside Biomedical from a hold rating to a buy rating in a research note on Tuesday. Cowen downgraded shares of Clearside Biomedical from an outperform rating to a market perform rating in a research note on Monday, November 5th. BidaskClub downgraded shares of Clearside Biomedical from a buy rating to a hold rating in a research note on Friday, July 20th. Zacks Investment Research downgraded shares of Clearside Biomedical from a hold rating to a sell rating in a research note on Tuesday, July 10th. Finally, Laidlaw began coverage on shares of Clearside Biomedical in a research note on Monday, July 16th. They issued a buy rating and a $18.00 price target for the company. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $12.71.

Shares of NASDAQ:CLSD traded down $0.14 during trading on Tuesday, hitting $1.84. The company’s stock had a trading volume of 707,532 shares, compared to its average volume of 703,408. The company has a market cap of $70.13 million, a price-to-earnings ratio of -0.79 and a beta of -3.98. The company has a quick ratio of 7.94, a current ratio of 7.94 and a debt-to-equity ratio of 0.15. Clearside Biomedical has a fifty-two week low of $1.83 and a fifty-two week high of $15.33.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Thursday, November 8th. The company reported ($0.75) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.12). On average, analysts expect that Clearside Biomedical will post -2.49 EPS for the current year.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Clearside Biomedical by 2.3% during the third quarter. BlackRock Inc. now owns 1,903,108 shares of the company’s stock worth $11,704,000 after purchasing an additional 43,160 shares in the last quarter. AWM Investment Company Inc. grew its stake in shares of Clearside Biomedical by 31.6% during the third quarter. AWM Investment Company Inc. now owns 875,126 shares of the company’s stock worth $5,382,000 after purchasing an additional 210,131 shares in the last quarter. Northpointe Capital LLC acquired a new position in shares of Clearside Biomedical during the second quarter worth $8,725,000. Northern Trust Corp grew its stake in shares of 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 purchasing an additional 68,357 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of 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 purchasing an additional 253,981 shares in the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.

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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Analyst Recommendations for Clearside Biomedical (NASDAQ:CLSD)

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