Cowen and Company reiterated their buy rating on shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) in a research report report published on Thursday, May 11th. They currently have a $15.00 price target on the stock.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research upgraded Clearside Biomedical from a sell rating to a hold rating in a report on Monday, March 27th. Wedbush reiterated an outperform rating and issued a $27.00 price objective on shares of Clearside Biomedical in a report on Thursday, April 20th. Needham & Company LLC dropped their price objective on Clearside Biomedical to $18.00 and set a buy rating on the stock in a report on Tuesday, March 14th. Finally, J P Morgan Chase & Co began coverage on Clearside Biomedical in a report on Friday, February 24th. They issued an overweight rating and a $19.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $20.71.
Clearside Biomedical (CLSD) opened at 7.82 on Thursday. The stock’s market cap is $197.85 million. Clearside Biomedical has a 1-year low of $5.44 and a 1-year high of $25.08. The firm has a 50-day moving average price of $7.87 and a 200 day moving average price of $8.37.
Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Wednesday, May 10th. The company reported ($0.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.03. Clearside Biomedical had a negative return on equity of 53.20% and a negative net margin of 154,030.02%. The company had revenue of $0.01 million for the quarter. On average, equities research analysts anticipate that Clearside Biomedical will post ($1.72) EPS for the current fiscal year.
In related news, CEO Daniel H. White sold 3,600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $7.78, for a total transaction of $28,008.00. Following the transaction, the chief executive officer now owns 504,067 shares in the company, valued at approximately $3,921,641.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel H. White sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $7.89, for a total value of $63,120.00. Following the transaction, the insider now owns 504,067 shares in the company, valued at approximately $3,977,088.63. The disclosure for this sale can be found here. Insiders have sold a total of 260,110 shares of company stock worth $2,062,137 in the last 90 days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased 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 in the last quarter. Highbridge Capital Management LLC bought a new stake in Clearside Biomedical during the first quarter worth $217,000. Renaissance Technologies LLC bought a new stake in Clearside Biomedical during the first quarter worth $604,000. AWM Investment Company Inc. boosted its stake in Clearside Biomedical by 173.0% in the first quarter. AWM Investment Company Inc. now owns 341,217 shares of the company’s stock worth $2,709,000 after buying an additional 216,217 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Clearside Biomedical by 6.2% in the first quarter. Geode Capital Management LLC now owns 96,324 shares of the company’s stock worth $764,000 after buying an additional 5,596 shares during the last quarter. Hedge funds and other institutional investors own 49.69% of the company’s stock.
About Clearside Biomedical
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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