Clearside Biomedical Inc (NASDAQ:CLSD) has received an average rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $21.67.
CLSD has been the topic of a number of analyst reports. Needham & Company LLC lifted their price objective on Clearside Biomedical from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, March 6th. Zacks Investment Research cut Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. ValuEngine cut Clearside Biomedical from a “sell” rating to a “strong sell” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $18.00 price objective (up from $15.00) on shares of Clearside Biomedical in a research report on Tuesday, March 6th. Finally, BidaskClub raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Friday, March 9th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors lifted its holdings in Clearside Biomedical by 118.3% in the 2nd quarter. Nationwide Fund Advisors now owns 11,703 shares of the company’s stock worth $107,000 after purchasing an additional 6,343 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new position in Clearside Biomedical in the 2nd quarter worth approximately $122,000. Paloma Partners Management Co purchased a new position in Clearside Biomedical in the 4th quarter worth approximately $124,000. The Manufacturers Life Insurance Company lifted its holdings in Clearside Biomedical by 21,620.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,811 shares of the company’s stock worth $162,000 after purchasing an additional 17,729 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Clearside Biomedical by 206.9% in the 2nd quarter. New York State Common Retirement Fund now owns 22,100 shares of the company’s stock worth $201,000 after purchasing an additional 14,899 shares in the last quarter. 48.65% of the stock is currently owned by institutional investors.
Clearside Biomedical (NASDAQ CLSD) opened at $11.73 on Friday. Clearside Biomedical has a 12-month low of $5.30 and a 12-month high of $15.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.57 and a current ratio of 4.57. The firm has a market capitalization of $381.44, a PE ratio of -5.06 and a beta of -5.48.
Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Wednesday, March 14th. The company reported ($0.65) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.70) by $0.05. Clearside Biomedical had a negative return on equity of 111.72% and a negative net margin of 17,094.20%. The firm had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.10 million. sell-side analysts predict that Clearside Biomedical will post -2.46 earnings per share for the current year.
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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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