Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have received a consensus recommendation of “Hold” from seven analysts covering the company, according to data from MarketBeat Ratings. The average price target set by these brokerages stands at $63.00 for the next year. The recommendations include one sell rating, five hold ratings, and one buy rating.
In recent evaluations, Wall Street Zen upgraded Clearside Biomedical from a “sell” to a “hold” rating on October 25, 2023. Additionally, Needham & Company LLC reiterated its “hold” rating in a research note dated November 18, 2023. On the other hand, Weiss Ratings initiated coverage on the company with a “sell (e+)” rating on November 1, 2023.
Recent Financial Performance
The latest earnings report for Clearside Biomedical was released on November 14, 2023. The company reported a loss of ($1.14) earnings per share, which fell short of the consensus estimate of ($0.67) by ($0.47). Revenue for the quarter totaled $0.20 million, exceeding analyst expectations of $0.09 million. Analysts predict that Clearside Biomedical will post an earnings per share of (0.48) for the current fiscal year.
Institutional Interest in Clearside Biomedical
Recent institutional trading activity indicates growing interest in Clearside Biomedical. Apollon Wealth Management LLC acquired a new position in the company during the third quarter, purchasing 23,586 shares valued at approximately $94,000, according to their latest 13F filing with the Securities and Exchange Commission. At the close of the most recent quarter, Apollon Wealth Management LLC held about 0.45% of Clearside Biomedical. Currently, institutional investors own 18.75% of the company’s stock.
About Clearside Biomedical
Clearside Biomedical, Inc. is a biopharmaceutical company focused on innovating the delivery of therapies to the back of the eye via the suprachoroidal space. Its flagship product, XIPERE, is a triamcinolone acetonide suprachoroidal injectable suspension used to treat uveitis macular edema. The company is also developing CLS-AX, an axitinib injectable suspension currently undergoing Phase IIb clinical trials for the treatment of wet age-related macular degeneration.
This combination of analyst ratings, recent financial results, and institutional investments showcase the ongoing developments within Clearside Biomedical as it seeks to strengthen its position in the biopharmaceutical industry.
