Clearside Biomedical Inc (NASDAQ:CLSD)‘s stock had its “outperform” rating reiterated by Wedbush in a research report issued to clients and investors on Tuesday. They presently have a $27.00 price target on the stock. Wedbush’s target price indicates a potential upside of 323.20% from the company’s previous close.
CLSD has been the topic of several other reports. JPMorgan Chase & Co. assumed coverage on Clearside Biomedical in a research report on Friday, February 24th. They set an “overweight” rating and a $19.00 price target on the stock. Zacks Investment Research upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC reduced their price target on Clearside Biomedical to $18.00 in a research report on Tuesday. Finally, Cowen and Company restated a “buy” rating on shares of Clearside Biomedical in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $21.80.
Shares of Clearside Biomedical (NASDAQ:CLSD) traded down 12.72% during midday trading on Tuesday, reaching $6.38. The company had a trading volume of 483,295 shares. The company’s market capitalization is $131.22 million. The company has a 50-day moving average price of $7.61 and a 200 day moving average price of $12.51. Clearside Biomedical has a one year low of $5.44 and a one year high of $25.08.
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In other news, Director Clay Thorp sold 68,485 shares of Clearside Biomedical stock in a transaction that occurred on Friday, January 20th. The stock was sold at an average price of $8.53, for a total value of $584,177.05. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Venture Advisors Iii Hatteras sold 25,301 shares of Clearside Biomedical stock in a transaction that occurred on Thursday, January 19th. The stock was sold at an average price of $8.63, for a total value of $218,347.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 162,271 shares of company stock worth $1,321,661.
Several large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Clearside Biomedical during the fourth quarter worth $417,000. Opaleye Management Inc. acquired a new stake in shares of Clearside Biomedical during the fourth quarter worth $2,414,000. Perceptive Advisors LLC acquired a new stake in shares of Clearside Biomedical during the fourth quarter worth $6,365,000. Ellington Management Group LLC acquired a new stake in shares of Clearside Biomedical during the fourth quarter worth $203,000. Finally, Tudor Investment Corp Et Al acquired a new stake in shares of Clearside Biomedical during the fourth quarter worth $1,184,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.
Clearside Biomedical Company Profile
Clearside Biomedical, Inc is a clinical biopharmaceutical company developing first-in-class drug therapies to treat blinding diseases of the eye. The Company’s product candidates focus on diseases affecting the retina, which is the tissue that lines the inside of the eye and is primarily responsible for vision, and the choroid, which is the layer adjacent to the retina that supplies the retina with blood, oxygen and nourishment.
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