Clearside Biomedical, Inc. (CLSD) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) from a sell rating to a hold rating in a research report released on Wednesday morning.

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. “

Several other research analysts have also issued reports on CLSD. ValuEngine lowered Clearside Biomedical from a hold rating to a sell rating in a research report on Thursday, August 10th. Cowen and Company restated a buy rating on shares of Clearside Biomedical in a research report on Monday, August 7th. Finally, TheStreet lowered Clearside Biomedical from a c- rating to a d rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Clearside Biomedical has an average rating of Buy and an average target price of $18.33.

Clearside Biomedical (NASDAQ CLSD) traded down 4.53% during midday trading on Wednesday, reaching $7.17. The company’s stock had a trading volume of 71,658 shares. The company’s 50-day moving average is $7.99 and its 200 day moving average is $7.99. The firm’s market cap is $181.66 million. Clearside Biomedical has a 12-month low of $5.44 and a 12-month high of $24.73.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Wednesday, August 9th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.13). Clearside Biomedical had a negative net margin of 27,225.52% and a negative return on equity of 65.78%. The business had revenue of $0.13 million for the quarter. Equities analysts forecast that Clearside Biomedical will post ($2.10) earnings per share for the current year.

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In other news, Director Gerald D. Cagle purchased 5,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $7.08 per share, for a total transaction of $35,400.00. Following the completion of the acquisition, the director now owns 15,941 shares of the company’s stock, valued at $112,862.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Clay Thorp sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $8.02, for a total value of $36,090.00. The disclosure for this sale can be found here. In the last quarter, insiders purchased 7,100 shares of company stock valued at $50,170 and sold 132,000 shares valued at $1,038,110. 20.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hillhouse Capital Management Ltd. boosted its holdings in shares of Clearside Biomedical by 5.3% in the second quarter. Hillhouse Capital Management Ltd. now owns 900,000 shares of the company’s stock valued at $8,199,000 after purchasing an additional 45,100 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of Clearside Biomedical in the first quarter valued at approximately $217,000. Granite Investment Partners LLC boosted its holdings in shares of Clearside Biomedical by 74.8% in the second quarter. Granite Investment Partners LLC now owns 92,941 shares of the company’s stock valued at $847,000 after purchasing an additional 39,765 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Clearside Biomedical in the first quarter valued at approximately $178,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Clearside Biomedical by 31.6% in the first quarter. Wellington Management Group LLP now owns 2,164,703 shares of the company’s stock valued at $17,187,000 after purchasing an additional 520,403 shares during the period. Hedge funds and other institutional investors own 52.45% 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.

Analyst Recommendations for Clearside Biomedical (NASDAQ:CLSD)

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