Analysts Set Clearside Biomedical, Inc. (NASDAQ:CLSD) Target Price at $4.75

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have received an average rating of “Buy” from the four analysts that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $4.75.

A number of equities research analysts have recently issued reports on CLSD shares. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, March 14th. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. JMP Securities reiterated a “market outperform” rating and issued a $5.00 price objective on shares of Clearside Biomedical in a research note on Wednesday, March 13th. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 price objective on shares of Clearside Biomedical in a research note on Thursday, April 11th. Finally, Wedbush reiterated an “outperform” rating and issued a $4.00 price objective (down previously from $5.00) on shares of Clearside Biomedical in a research note on Wednesday, March 13th.

Clearside Biomedical Price Performance

CLSD stock opened at $1.37 on Wednesday. Clearside Biomedical has a 52-week low of $0.65 and a 52-week high of $2.12. The company’s 50 day simple moving average is $1.45 and its 200-day simple moving average is $1.22. The firm has a market capitalization of $102.37 million, a P/E ratio of -2.58 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $6.35 million for the quarter, compared to analyst estimates of $3.40 million. Sell-side analysts predict that Clearside Biomedical will post -0.56 EPS for the current fiscal year.

Insider Transactions at Clearside Biomedical

In other Clearside Biomedical news, major shareholder Bradford T. Whitmore purchased 444,444 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were bought at an average price of $1.35 per share, for a total transaction of $599,999.40. Following the purchase, the insider now directly owns 4,495,034 shares in the company, valued at approximately $6,068,295.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 30,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were bought at an average price of $1.60 per share, for a total transaction of $48,000.00. Following the purchase, the insider now directly owns 30,000 shares in the company, valued at approximately $48,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bradford T. Whitmore purchased 444,444 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were acquired at an average price of $1.35 per share, for a total transaction of $599,999.40. Following the purchase, the insider now owns 4,495,034 shares in the company, valued at $6,068,295.90. The disclosure for this purchase can be found here. Insiders have acquired a total of 481,154 shares of company stock worth $656,387 in the last 90 days. 9.80% of the stock is owned by insiders.

Institutional Trading of Clearside Biomedical

A hedge fund recently bought a new stake in Clearside Biomedical stock. International Assets Investment Management LLC acquired a new position in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 36,000 shares of the company’s stock, valued at approximately $57,000. Institutional investors and hedge funds own 18.75% of the company’s stock.

About Clearside Biomedical

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.