Today: Clearside Biomedical Inc. (CLSD) Upgraded by Zacks Investment Research to Hold

Today: Clearside Biomedical Inc. (CLSD) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Clearside Biomedical Inc. (NASDAQ:CLSD) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

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. “

CLSD has been the topic of several other reports. Stifel Nicolaus assumed coverage on Clearside Biomedical in a research note on Monday, June 27th. They set a buy rating and a $13.00 price objective on the stock. Wedbush assumed coverage on Clearside Biomedical in a research note on Monday, June 27th. They set an outperform rating and a $28.00 price objective on the stock. Cowen and Company assumed coverage on Clearside Biomedical in a research note on Monday, June 27th. They set an outperform rating on the stock. Finally, Needham & Company LLC assumed coverage on Clearside Biomedical in a research note on Tuesday, June 28th. They set a buy rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $16.19.

Clearside Biomedical (NASDAQ:CLSD) opened at 20.16 on Tuesday. The stock has a 50 day moving average price of $13.38 and a 200-day moving average price of $9.23. Clearside Biomedical has a 1-year low of $5.65 and a 1-year high of $25.08. The stock’s market cap is $414.19 million.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Thursday, August 11th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by $0.30. On average, equities analysts expect that Clearside Biomedical will post ($2.10) EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLSD. AWM Investment Company Inc. acquired a new position in Clearside Biomedical during the second quarter worth approximately $350,000. Iguana Healthcare Management LLC acquired a new position in Clearside Biomedical during the second quarter worth approximately $526,000. Marshall Wace LLP acquired a new position in Clearside Biomedical during the second quarter worth approximately $1,122,000. Finally, Perceptive Advisors LLC acquired a new position in Clearside Biomedical during the second quarter worth approximately $4,450,000. 36.61% of the stock is currently owned by hedge funds and other institutional investors.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc is a late-stage clinical biopharmaceutical company. The Company is developing drug therapies to treat blinding diseases of the eye. The Company’s product candidates are focused on diseases affecting the retina and choroid, especially diseases associated with macular edema, and are injected into the suprachoroidal space (SCS) adjacent to the choroid, using its SCS Microinjector.

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