Zacks Investment Research Downgrades Clearside Biomedical (NASDAQ:CLSD) to Sell

Zacks Investment Research downgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a hold rating to a sell rating in a research 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 research analysts also recently weighed in on CLSD. Wedbush restated an outperform rating on shares of Clearside Biomedical in a research report on Wednesday, December 15th. HC Wainwright reaffirmed a buy rating and set a $10.00 price objective on shares of Clearside Biomedical in a research note on Wednesday, December 22nd. Finally, JMP Securities reaffirmed a buy rating and set a $11.00 price objective on shares of Clearside Biomedical in a research note on Tuesday, November 23rd. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Clearside Biomedical has an average rating of Buy and an average price target of $11.95.

CLSD opened at $2.23 on Tuesday. Clearside Biomedical has a twelve month low of $2.17 and a twelve month high of $7.73. The company has a 50-day moving average price of $3.36 and a 200 day moving average price of $4.90. The company has a market cap of $133.06 million, a PE ratio of -4.85 and a beta of 1.80.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Wednesday, November 10th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. Clearside Biomedical had a negative net margin of 652.60% and a negative return on equity of 161.73%. The firm had revenue of $3.07 million during the quarter, compared to the consensus estimate of $3.32 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. As a group, sell-side analysts expect that Clearside Biomedical will post -0.22 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of CLSD. Advisor Group Holdings Inc. grew its stake in shares of Clearside Biomedical by 208.3% in the 2nd quarter. Advisor Group Holdings Inc. now owns 7,400 shares of the company’s stock valued at $36,000 after buying an additional 5,000 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Clearside Biomedical by 50.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,500 shares of the company’s stock valued at $37,000 after buying an additional 2,500 shares during the period. Capstone Investment Advisors LLC purchased a new stake in shares of Clearside Biomedical in the 3rd quarter valued at approximately $71,000. Goldman Sachs Group Inc. purchased a new stake in shares of Clearside Biomedical in the 2nd quarter valued at approximately $82,000. Finally, Walleye Capital LLC purchased a new stake in shares of Clearside Biomedical in the 2nd quarter valued at approximately $88,000. 33.95% of the stock is owned by institutional investors and hedge funds.

About Clearside Biomedical

Clearside Biomedical, Inc is a biopharmaceutical company, which engages in the development of drug therapies to treat blinding diseases of the eye. Its pipeline includes Suprachoroidal CLS-TA, Suprachoroidal, Suprachoroidal CLS-TA, and gene therapy. The company was founded by Samir Kumar Patel, Vladimir Zarnitsyn, Mark Prausnitz, Daniel H.

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