Clearside Biomedical (NASDAQ:CLSD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
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. “
Other equities analysts have also recently issued reports about the company. ValuEngine cut Clearside Biomedical from a “buy” rating to a “hold” rating in a research report on Thursday, January 24th. Cowen reiterated a “hold” rating on shares of Clearside Biomedical in a research note on Tuesday, January 22nd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $10.32.
Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Tuesday, March 12th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.13). The business had revenue of $0.03 million during the quarter. Sell-side analysts forecast that Clearside Biomedical will post -1.26 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Alambic Investment Management L.P. purchased a new stake in shares of Clearside Biomedical in the 4th quarter worth $26,000. SG Americas Securities LLC purchased a new stake in shares of Clearside Biomedical in the 4th quarter worth $37,000. Rhumbline Advisers increased its stake in shares of Clearside Biomedical by 48.5% in the 4th quarter. Rhumbline Advisers now owns 36,979 shares of the company’s stock worth $40,000 after purchasing an additional 12,076 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Clearside Biomedical in the 4th quarter worth $57,000. Finally, Bank of New York Mellon Corp increased its stake in Clearside Biomedical by 32.8% in the 4th quarter. Bank of New York Mellon Corp now owns 111,970 shares of the company’s stock worth $120,000 after buying an additional 27,652 shares in the last quarter. Hedge funds and other institutional investors own 39.93% of the company’s stock.
Clearside Biomedical Company Profile
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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