JPMorgan Chase & Co. cut shares of Clearside Biomedical (NASDAQ:CLSD) from an overweight rating to an underweight rating in a research note released on Monday, MarketBeat reports.
Other equities research analysts have also issued reports about the company. BidaskClub lowered Clearside Biomedical from a buy rating to a hold rating in a research report on Friday, July 20th. Zacks Investment Research raised Clearside Biomedical from a sell rating to a hold rating in a research report on Monday, August 13th. Laidlaw began coverage on Clearside Biomedical in a research report on Monday, July 16th. They issued a buy rating and a $18.00 price target for the company. Finally, Wedbush set a $29.00 price target on Clearside Biomedical and gave the company a buy rating in a research report on Tuesday, October 23rd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $14.57.
NASDAQ CLSD traded up $0.05 on Monday, reaching $2.12. The company had a trading volume of 1,093,097 shares, compared to its average volume of 207,905. The firm has a market capitalization of $178.05 million, a P/E ratio of -0.91 and a beta of -3.98. Clearside Biomedical has a 52-week low of $2.05 and a 52-week high of $15.33. The company has a current ratio of 7.94, a quick ratio of 7.94 and a debt-to-equity ratio of 0.15.
Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Wednesday, August 8th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.07). As a group, sell-side analysts predict that Clearside Biomedical will post -2.53 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in shares of Clearside Biomedical during the 3rd quarter valued at $202,000. Russell Investments Group Ltd. increased its position in shares of Clearside Biomedical by 102.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 158,931 shares of the company’s stock valued at $977,000 after purchasing an additional 80,540 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Clearside Biomedical by 22.3% during the 3rd quarter. Alps Advisors Inc. now owns 56,670 shares of the company’s stock valued at $349,000 after purchasing an additional 10,315 shares during the last quarter. Northern Trust Corp increased its position in shares of Clearside Biomedical by 28.1% during the 2nd quarter. Northern Trust Corp now owns 311,755 shares of the company’s stock valued at $3,333,000 after purchasing an additional 68,357 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Clearside Biomedical during the 2nd quarter valued at $2,138,000. 62.23% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading: What is the NASDAQ Stock Market?
Receive News & Ratings for Clearside Biomedical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearside Biomedical and related companies with MarketBeat.com's FREE daily email newsletter.