Clearside Biomedical (NASDAQ:CLSD) Given Buy Rating at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note released on Friday morning,Benzinga reports. They currently have a $6.00 price objective on the stock.

CLSD has been the topic of several other reports. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday. Finally, StockNews.com downgraded shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Clearside Biomedical currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.33.

Clearside Biomedical Stock Down 5.7 %

Shares of CLSD traded down $0.06 during mid-day trading on Friday, hitting $0.99. The stock had a trading volume of 435,642 shares, compared to its average volume of 400,971. The company has a market cap of $75.08 million, a PE ratio of -2.20 and a beta of 2.33. Clearside Biomedical has a fifty-two week low of $0.90 and a fifty-two week high of $2.12. The company’s fifty day simple moving average is $1.19 and its two-hundred day simple moving average is $1.19.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. Equities analysts expect that Clearside Biomedical will post -0.56 earnings per share for the current year.

Insider Buying and Selling at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong purchased 36,500 shares of Clearside Biomedical stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the acquisition, the insider now directly owns 100,000 shares in the company, valued at $100,000. This represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Clearside Biomedical by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after acquiring an additional 314,480 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical in the second quarter worth $368,000. Johnson & Johnson bought a new stake in shares of Clearside Biomedical during the 3rd quarter worth $105,000. Geode Capital Management LLC grew its stake in Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after buying an additional 59,089 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after acquiring an additional 35,900 shares during the period. Institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.