Needham & Company LLC Reaffirms "Buy" Rating for Clearside Biomedical (NASDAQ:CLSD)

Clearside Biomedical (NASDAQ:CLSD - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $4.00 price objective on the stock. Needham & Company LLC's target price points to a potential upside of 373.20% from the stock's previous close.Get Clearside Biomedical alerts:CLSD has been the topic of a number of other reports. HC Wainwright restated a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Monday, March 31st. StockNews.com lowered shares of Clearside Biomedical from a "hold" rating to a "sell" rating in a research report on Tuesday, March 18th. Finally, Chardan Capital reiterated a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Friday, March 28th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Clearside Biomedical currently has a consensus rating of "Moderate Buy" and an average price target of $5.25.View Our Latest Stock Report on CLSDClearside Biomedical Stock PerformanceShares of CLSD opened at $0.85 on Tuesday. Clearside Biomedical has a 1 year low of $0.77 and a 1 year high of $1.65. The stock has a market capitalization of $65.21 million, a P/E ratio of -1.88 and a beta of 2.04. The company's fifty day moving average is $0.96 and its two-hundred day moving average is $1.03. Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03. The firm had revenue of $0.31 million for the quarter, compared to analysts' expectations of $0.27 million. Sell-side analysts predict that Clearside Biomedical will post -0.48 EPS for the current year. Hedge Funds Weigh In On Clearside BiomedicalHedge funds and other institutional investors have recently modified their holdings of the company. Investor s Fiduciary Advisor Network LLC acquired a new stake in Clearside Biomedical during the fourth quarter valued at approximately $32,000. Northern Trust Corp grew its holdings in Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company's stock valued at $157,000 after purchasing an additional 32,048 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Clearside Biomedical by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company's stock worth $726,000 after purchasing an additional 32,672 shares during the period. Institutional investors and hedge funds own 18.75% of the company's stock. Clearside Biomedical Company Profile (Get Free Report)Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.Read MoreFive stocks we like better than Clearside BiomedicalStock Average Calculator PayPal Stock: Too Cheap to Ignore, Too Strong to MissHow to trade using analyst ratingsProgress Software: Making Progress Driven by the AI RevolutionA Deeper Look at Bid-Ask SpreadsIntel-Taiwan Semiconductor Alliance Fuels Turnaround HopesThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Clearside Biomedical Right Now?Before you consider Clearside Biomedical, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Clearside Biomedical wasn't on the list.While Clearside Biomedical currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here