Needham & Company Starts Clearside Biomedical (CLSD) at Buy

Needham & Company initiates coverage on Clearside Biomedical (NASDAQ: CLSD) with a Buy rating and a price target of $16.00.

Analyst Serge Belanger commented, "We are initiating coverage of Clearside Biomedical, Inc. (CLSD), a late-stage biopharmaceutical company focused on back-of-the eye diseases, at Buy with a 12- to 18-month $16 PT. CLSD has two-late stage candidates based on Zuprata, a propietary steroid formulation, CLS-1001, a potential first-line treatment for macular edema associated with non-infectious uveitis, and CLS-1003, for macular edema with retinal vein occlusion (RVO). Both programs leverage CLSD's SCS microinjector, a proprietary drug delivery platform, that localizes drug delivery to the suprachoroidal space (SCS), thereby enhancing efficacy and reducing the significant side effects associated with corticosteroids. We believe the SCS microinjector platform can be applied to various molecules and allow CLSD to target a wide spectrum of back-of-the eye diseases."

For an analyst ratings summary and ratings history on Clearside Biomedical click here. For more ratings news on Clearside Biomedical click here.

Shares of Clearside Biomedical closed at $7.00 yesterday.

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