Clearside Biomedical (NASDAQ:CLSD) Price Target Cut to $3.00 by Analysts at Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD) had its target price decreased by Needham & Company LLC from $4.00 to $3.00 in a report issued on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, May 9th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Monday, March 31st. Finally, Chardan Capital reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Clearside Biomedical presently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Clearside Biomedical Stock Performance

Clearside Biomedical stock opened at $0.86 on Thursday. Clearside Biomedical has a one year low of $0.70 and a one year high of $1.65. The stock has a fifty day moving average of $0.88 and a 200 day moving average of $0.95. The stock has a market cap of $66.81 million, a PE ratio of -1.92 and a beta of 2.11.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The firm had revenue of $2.33 million for the quarter, compared to the consensus estimate of $0.20 million. As a group, sell-side analysts predict that Clearside Biomedical will post -0.48 EPS for the current fiscal year.

Institutional Trading of Clearside Biomedical

Institutional investors and hedge funds have recently modified their holdings of the company. Investor s Fiduciary Advisor Network LLC purchased a new stake in Clearside Biomedical in the 4th quarter worth $32,000. Northern Trust Corp grew its position in shares of Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after purchasing an additional 32,048 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Clearside Biomedical by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after purchasing an additional 32,672 shares during the period. 18.75% of the stock is currently owned by institutional investors.

About Clearside Biomedical

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.