Clearside Biomedical Inc (NASDAQ:CLSD) rose 1.8% during mid-day trading on Wednesday . The stock traded as high as $2.28 and last traded at $2.26. Approximately 41,214 shares changed hands during trading, a decline of 80% from the average daily volume of 207,905 shares. The stock had previously closed at $2.22.
CLSD has been the subject of several recent research reports. BidaskClub downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Saturday, August 4th. Laidlaw set a $5.00 price objective on Clearside Biomedical and gave the company a “buy” rating in a research note on Tuesday. ValuEngine upgraded Clearside Biomedical from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. downgraded Clearside Biomedical from an “overweight” rating to an “underweight” rating in a research note on Monday. Finally, Needham & Company LLC set a $4.00 price objective on Clearside Biomedical and gave the company a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $12.71.
The company has a market cap of $178.05 million, a PE ratio of -0.94 and a beta of -3.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.94 and a quick ratio of 7.94.
Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Wednesday, August 8th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.07). As a group, equities analysts forecast that Clearside Biomedical Inc will post -2.53 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the business. Rhumbline Advisers grew its stake in Clearside Biomedical by 43.2% in the 2nd quarter. Rhumbline Advisers now owns 26,703 shares of the company’s stock valued at $285,000 after purchasing an additional 8,057 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Clearside Biomedical by 7.5% during the 1st quarter. Russell Investments Group Ltd. now owns 122,039 shares of the company’s stock valued at $1,309,000 after buying an additional 8,471 shares during the last quarter. Alps Advisors Inc. lifted 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 buying an additional 10,315 shares during the last quarter. Trustcore Financial Services LLC lifted its position in shares of Clearside Biomedical by 280.3% during the 2nd quarter. Trustcore Financial Services LLC now owns 14,585 shares of the company’s stock valued at $156,000 after buying an additional 10,750 shares during the last quarter. Finally, Voya Investment Management LLC purchased a new position in shares of Clearside Biomedical during the 2nd quarter valued at $123,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.
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Clearside Biomedical Company Profile (NASDAQ:CLSD)
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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