Wedbush Remains a Buy on Clearside Biomedical


In a report released yesterday, Liana Moussatos from Wedbush maintained a Buy rating on Clearside Biomedical (NASDAQ: CLSD), with a price target of $29. The company’s shares opened today at $11.61.

According to TipRanks.com, Moussatos is a 4-star analyst with an average return of 8.9% and a 43.0% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as Allena Pharmaceuticals Inc, Global Blood Therapeutics, and Catabasis Pharmaceuticals.

Currently, the analyst consensus on Clearside Biomedical is Strong Buy and the average price target is $22.80, representing a 96.4% upside.

In a report issued on May 9, Cowen & Co. also maintained a Buy rating on the stock.

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Based on Clearside Biomedical’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $16.61 million. In comparison, last year the company had a GAAP net loss of $10.37 million.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Clearside Biomedical, Inc. is a clinical stage biopharmaceutical company, which engages in the development of drug therapies to treat blinding diseases of the eye. The company was founded by Samir Kumar Patel, Vladimir Zarnitsyn, Mark Prausnitz, Daniel H. White, and Henry F. Edelhauser in May 2011 and is headquartered in Alpharetta, GA.

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