Clearside Biomedical, Inc. (NASDAQ:CLSD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, July 17th.
According to Zacks, “Clearside Biomedical, Inc. is a biopharmaceutical company is engaged in developing first-in-class drug therapies to treat blinding diseases of the eye using Clearside proprietary suprachoroidal space(TM) microinjector. Its products include CLS-1001 for the treatment of macular edema associated with non-infectious uveitis; CLS-1003 for the treatment of macular edema associated with retinal vein occlusion; and CLS-1002 program for the treatment of wet age-related macular degeneration. Clearside Biomedical, Inc. is headquartered in Alpharetta, Georgia. “
Other research analysts have also issued reports about the stock. Wedbush restated an “outperform” rating and issued a $27.00 price objective on shares of Clearside Biomedical in a research note on Thursday, April 20th. Cowen and Company restated a “buy” rating and issued a $15.00 price objective on shares of Clearside Biomedical in a research note on Thursday, May 11th. JMP Securities assumed coverage on shares of Clearside Biomedical in a report on Thursday, May 25th. They issued an “outperform” rating and a $21.00 target price on the stock. Finally, ValuEngine raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $19.00.
Shares of Clearside Biomedical (NASDAQ CLSD) opened at 7.04 on Monday. Clearside Biomedical has a 1-year low of $5.44 and a 1-year high of $25.08. The company’s 50 day moving average price is $9.02 and its 200-day moving average price is $8.03. The company’s market capitalization is $178.18 million.
Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Wednesday, August 9th. The company reported ($0.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.13. The company had revenue of $0.13 million for the quarter. Clearside Biomedical had a negative return on equity of 63.76% and a negative net margin of 27,225.52%. On average, equities analysts forecast that Clearside Biomedical will post ($1.90) earnings per share for the current year.
In other Clearside Biomedical news, CEO Daniel H. White sold 3,600 shares of Clearside Biomedical stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $9.79, for a total transaction of $35,244.00. Following the completion of the transaction, the chief executive officer now owns 499,967 shares in the company, valued at $4,894,676.93. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Clay Thorp sold 44,485 shares of Clearside Biomedical stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $8.63, for a total transaction of $383,905.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,170 shares of company stock worth $1,342,339. 20.90% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Clearside Biomedical during the first quarter worth about $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 worth $2,709,000 after buying an additional 216,217 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in Clearside Biomedical during the first quarter worth $1,720,000. MARSHALL WACE ASIA Ltd purchased a new position in Clearside Biomedical during the first quarter worth $1,720,000. Finally, TIAA CREF Investment Management LLC raised its position in Clearside Biomedical by 30.7% in the first quarter. TIAA CREF Investment Management LLC now owns 19,257 shares of the company’s stock worth $153,000 after buying an additional 4,527 shares in the last quarter. Institutional investors own 49.67% of the company’s stock.
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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