ValuEngine downgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a buy rating to a hold rating in a report published on Friday.
Several other research firms also recently commented on CLSD. BidaskClub downgraded Clearside Biomedical from a strong-buy rating to a buy rating in a report on Friday, June 8th. Needham & Company LLC boosted their target price on Clearside Biomedical from $18.00 to $22.00 and gave the stock a buy rating in a report on Tuesday, March 6th. Wedbush reissued an outperform rating and issued a $29.00 target price on shares of Clearside Biomedical in a report on Tuesday, March 20th. JPMorgan Chase & Co. reissued an overweight rating and issued a $18.00 target price (up from $15.00) on shares of Clearside Biomedical in a report on Tuesday, March 6th. Finally, JMP Securities set a $25.00 target price on Clearside Biomedical and gave the stock a buy rating in a report on Saturday, June 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $20.80.
Clearside Biomedical opened at $10.09 on Friday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.46 and a current ratio of 7.46. Clearside Biomedical has a twelve month low of $5.30 and a twelve month high of $15.33. The company has a market cap of $330.97 million, a P/E ratio of -4.33 and a beta of -7.22.
Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Wednesday, May 9th. The company reported ($0.62) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.05). Clearside Biomedical had a negative net margin of 17,094.20% and a negative return on equity of 131.37%. research analysts predict that Clearside Biomedical will post -2.39 EPS for the current fiscal year.
In other Clearside Biomedical news, insider Daniel H. White purchased 11,000 shares of the firm’s stock in a transaction dated Monday, June 4th. The stock was purchased at an average price of $9.07 per share, for a total transaction of $99,770.00. Following the completion of the purchase, the insider now directly owns 472,335 shares of the company’s stock, valued at $4,284,078.45. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Clay Thorp sold 161,139 shares of the business’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $13.08, for a total value of $2,107,698.12. The disclosure for this sale can be found here. Insiders own 15.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Clearside Biomedical in the first quarter worth $152,000. EAM Global Investors LLC purchased a new position in shares of Clearside Biomedical in the first quarter worth $903,000. Millennium Management LLC raised its stake in shares of Clearside Biomedical by 5,396.6% in the first quarter. Millennium Management LLC now owns 1,397,732 shares of the company’s stock worth $14,998,000 after purchasing an additional 1,372,303 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Clearside Biomedical in the first quarter worth $132,000. Finally, Sofinnova Ventures Inc purchased a new position in shares of Clearside Biomedical in the first quarter worth $380,000. Hedge funds and other institutional investors own 61.48% of the company’s stock.
About Clearside Biomedical
Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.
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