Clearside Biomedical (CLSD) Hits New 12-Month Low at $1.40

Shares of Clearside Biomedical Inc (NASDAQ:CLSD) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $1.40 and last traded at $1.50, with a volume of 2878 shares changing hands. The stock had previously closed at $1.47.

CLSD has been the subject of a number of research analyst reports. ValuEngine raised Clearside Biomedical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. Needham & Company LLC set a $4.00 target price on Clearside Biomedical and gave the company a “buy” rating in a research report on Tuesday, November 6th. Laidlaw set a $5.00 target price on Clearside Biomedical and gave the company a “buy” rating in a research report on Tuesday, November 6th. JPMorgan Chase & Co. cut Clearside Biomedical from an “overweight” rating to an “underweight” rating in a research report on Monday, November 5th. Finally, Janney Montgomery Scott set a $4.00 target price on Clearside Biomedical and gave the company a “buy” rating in a research report on Tuesday, November 6th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Clearside Biomedical presently has a consensus rating of “Hold” and a consensus target price of $12.71.

The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $47.08 million, a price-to-earnings ratio of -0.65 and a beta of -4.24.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Thursday, November 8th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12). On average, research analysts predict that Clearside Biomedical Inc will post -2.57 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC acquired a new stake in Clearside Biomedical during the 2nd quarter worth approximately $123,000. Bank of America Corp DE lifted its position in Clearside Biomedical by 915.6% during the 2nd quarter. Bank of America Corp DE now owns 16,574 shares of the company’s stock worth $177,000 after acquiring an additional 14,942 shares during the period. Trexquant Investment LP acquired a new stake in Clearside Biomedical during the 3rd quarter worth approximately $188,000. Engineers Gate Manager LP acquired a new stake in Clearside Biomedical during the 3rd quarter worth approximately $202,000. Finally, Renaissance Technologies LLC acquired a new stake in Clearside Biomedical during the 3rd quarter worth approximately $216,000. 57.94% of the stock is owned by institutional investors.

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About Clearside Biomedical (NASDAQ:CLSD)

Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.

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