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JMP Securities analyst Jonathan Wolleben reiterated a Buy rating on Clearside Biomedical (CLSD – Research Report) today and set a price target of $11.00. The company’s shares closed last Monday at $3.89.
According to TipRanks.com, Wolleben is a 1-star analyst with an average return of -2.3% and a 29.5% success rate. Wolleben covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Madrigal Pharmaceuticals, and Larimar Therapeutics.
Currently, the analyst consensus on Clearside Biomedical is a Strong Buy with an average price target of $14.25, implying a 226.1% upside from current levels. In a report issued on November 11, H.C. Wainwright also reiterated a Buy rating on the stock with a $10.00 price target.
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Based on Clearside Biomedical’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.07 million and GAAP net loss of $4.89 million. In comparison, last year the company earned revenue of $3.43 million and had a GAAP net loss of $2.43 million.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is neutral on the stock.
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Clearside Biomedical, Inc. is a clinical stage biopharmaceutical company, which engages in the development of drug therapies to treat blinding diseases of the eye. Its pipeline includes Suprachoroidal CLS-TA, Suprachoroidal, Suprachoroidal CLS-TA, and gene therapy. 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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