Clearside Biomedical (NASDAQ:CLSD) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a strong-buy rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Clearside Biomedical, Inc. is a biopharmaceutical company is engaged in developing first-in-class drug therapies to treat blinding diseases of the eye using Clearside proprietary suprachoroidal space(TM) microinjector. Its products include CLS-1001 for the treatment of macular edema associated with non-infectious uveitis; CLS-1003 for the treatment of macular edema associated with retinal vein occlusion; and CLS-1002 program for the treatment of wet age-related macular degeneration. Clearside Biomedical, Inc. is headquartered in Alpharetta, Georgia. “

Several other equities research analysts also recently commented on the stock. Needham & Company LLC downgraded shares of Clearside Biomedical from a buy rating to a hold rating in a report on Friday, August 9th. ValuEngine raised shares of Clearside Biomedical from a sell rating to a hold rating in a report on Thursday, August 1st. JMP Securities set a $3.00 price objective on shares of Clearside Biomedical and gave the company a buy rating in a report on Thursday, August 22nd. Laidlaw downgraded shares of Clearside Biomedical from a buy rating to a hold rating in a report on Tuesday, August 13th. Finally, Wedbush reaffirmed a buy rating and set a $4.00 price objective on shares of Clearside Biomedical in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $3.64.

NASDAQ CLSD opened at $0.77 on Tuesday. The company has a market cap of $29.08 million, a PE ratio of -0.29 and a beta of -0.57. Clearside Biomedical has a 52 week low of $0.56 and a 52 week high of $6.27. The company has a quick ratio of 3.47, a current ratio of 3.47 and a debt-to-equity ratio of 0.69. The firm’s 50-day simple moving average is $0.69 and its two-hundred day simple moving average is $1.06.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.22. The business had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $0.05 million. As a group, equities research analysts anticipate that Clearside Biomedical will post -0.91 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. A.R.T. Advisors LLC purchased a new stake in shares of Clearside Biomedical in the second quarter worth about $95,000. Paloma Partners Management Co purchased a new stake in shares of Clearside Biomedical in the second quarter worth about $122,000. Vanguard Group Inc. lifted its holdings in shares of Clearside Biomedical by 66.9% in the second quarter. Vanguard Group Inc. now owns 924,485 shares of the company’s stock worth $899,000 after buying an additional 370,690 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Clearside Biomedical in the second quarter worth about $98,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Clearside Biomedical by 63.4% in the first quarter. SG Americas Securities LLC now owns 57,234 shares of the company’s stock worth $79,000 after buying an additional 22,213 shares in the last quarter. 11.95% of the stock is currently owned by hedge funds and other institutional investors.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to restore and preserve vision for people with serious eye diseases. It develops XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of macular edema associated with uveitis, diabetic macular edema, and macular edema associated with retinal vein occlusion.

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