Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives $63.00 Average Target Price from Analysts

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $63.00.

A number of brokerages have recently issued reports on CLSD. Wall Street Zen upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Needham & Company LLC restated a “hold” rating on shares of Clearside Biomedical in a research report on Tuesday, November 18th. Finally, Weiss Ratings started coverage on shares of Clearside Biomedical in a report on Saturday, November 1st. They set a “sell (e+)” rating on the stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Clearside Biomedical stock. Apollon Wealth Management LLC acquired a new position in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 23,586 shares of the company’s stock, valued at approximately $94,000. Apollon Wealth Management LLC owned approximately 0.45% of Clearside Biomedical at the end of the most recent quarter. 18.75% of the stock is owned by institutional investors.

Clearside Biomedical Stock Down 36.4%

Shares of Clearside Biomedical stock opened at $0.36 on Friday. The firm has a market cap of $1.87 million, a PE ratio of -0.06 and a beta of 2.04. Clearside Biomedical has a twelve month low of $0.37 and a twelve month high of $17.10. The business has a 50-day moving average price of $1.33 and a 200 day moving average price of $4.57.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Friday, November 14th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.47). The business had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.09 million. On average, sell-side analysts expect that Clearside Biomedical will post -0.48 EPS for the current year.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for diseases affecting the back of the eye. The company’s proprietary SCS Microinjector® platform enables targeted delivery of therapeutics into the suprachoroidal space, a potential route to enhance local drug exposure while minimizing off-target effects. Clearside’s approach is designed to address a range of retinal disorders by directly depositing medication adjacent to choroid and retina.

The company’s lead approved product is XIPERE® (triamcinolone acetonide injectable suspension), which has received U.S.