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Clearside Biomedical (CLSD, $4.63) gets price target tripled at Wedbush
Shares of Clearside Biomedical climbed on Thursday, following a price target hike from analysts at Wedbush.
Wedbush analyst Liana Moussatos tripled her price target on the biopharmaceutical company’s shares to $18 a share. Moussatos has an outperform rating on the stock. This follows positive data from a early stage eye treatment study at Clearside.
"We find these initial results encouraging by first establishing a clear foundation of safety," Moussatos mentioned.
On Tuesday, Clearside announced positive safety results from Cohort 1 of OASIS, its ongoing Phase 1/2a clinical trial of CLS-AX (axitinib injectable suspension) administered by suprachoroidal injection via Clearside’s SCS Microinjector in six patients with neovascular age-related macular degeneration.
CLSD's Indicator enters downward trend
The Aroon Indicator for CLSD entered a downward trend on May 16, 2022. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 279 similar instances where the Aroon Indicator formed such a pattern. In 254 of the 279 cases the stock moved lower. This puts the odds of a downward move at 90%.
Throughout the month of 04/13/22 - 05/16/22, the price charted a -31% Downtrend, while the week of 05/09/22 - 05/16/22 shows no fluctuations.
CLSD moved below its 50-day Moving Average on April 18, 2022 date and that indicates a change from an upward trend to a downward trend.
The 10-day Moving Average for CLSD crossed bearishly below the 50-day moving average on April 22, 2022. This indicates that the trend has shifted lower and could be considered a sell signal. In 8 of 12 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 67%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CLSD declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 86%.
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where CLSD's RSI Oscillator exited the oversold zone, 26 of 40 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 65%.
The Stochastic Indicator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.
Following a +7.35% 3-day Advance, the price is estimated to grow further. Considering data from situations where CLSD advanced for three days, in 200 of 249 cases, the price rose further within the following month. The odds of a continued upward trend are 80%.
CLSD may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 77%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.9.
The Tickeron SMR rating for this company is 100 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. CLSD’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 96, placing this stock worse than average.
The Tickeron Valuation Rating of 91 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.233) is normal, around the industry mean (23.263). P/E Ratio (140.845) is within average values for comparable stocks, (108.275). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (3.614). Dividend Yield (0.000) settles around the average of (0.024) among similar stocks. P/S Ratio (2.856) is also within normal values, averaging (299.447).
The Tickeron Price Growth Rating for this company is 91 (best 1 - 100 worst), indicating slightly worse than average price growth. CLSD’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 56 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
Biotechnology involves genetic or protein engineering to produce medicines/therapies for treating and preventing ailments. The industry also provides crucial ingredients for diagnostics. This multi-billion-dollar industry is heavily focused on research and development, as companies attempt to continually come up with cutting-edge solutions for health. New discoveries for the treatment of diseases provide opportunities for growth for a company in this industry. Discoveries, however, must pass the regulatory approval from the U.S. Food and Drug Administration (FDA) before they can make it to markets. Amgen Inc., Gilead Sciences, Inc. and Celgene Corporation are examples of companies in this industry.
The average market capitalization across the Biotechnology Industry is 1.6B. The market cap for tickers in the group ranges from 2.5K to 237B. NVO holds the highest valuation in this group at 237B. The lowest valued company is IMUND at 2.5K.
The average weekly price growth across all stocks in the Biotechnology Industry was 0.75%. For the same Industry, the average monthly price growth was -20.19%, and the average quarterly price growth was -31.98%. IVBT experienced the highest price growth at 86.5%, while EMMA experienced the biggest fall at -60.75%.
- 4/22/22 6:39 AM: Clearside Biomedical (CLSD, $1.66) is a top weekly loser for penny stocks, falling -20.19%
- 4/13/22 8:15 AM: Clearside Biomedical (CLSD, $2.03) is a top weekly loser for penny stocks, falling -15.06%
- 3/12/22 8:06 AM: Clearside Biomedical (CLSD, $1.93) is a top weekly gainer for penny stocks, rising +38.49%
The average weekly volume growth across all stocks in the Biotechnology Industry was 47.7%. For the same stocks of the Industry, the average monthly volume growth was -20.86% and the average quarterly volume growth was 3.39%
- 3/16/22 5:06 AM: The volume for Clearside Biomedical stock increased for two consecutive days, resulting in a record-breaking daily growth of 472% of the 65-Day Volume Moving Average
- 3/15/22 5:13 AM: The volume for Clearside Biomedical stock increased for one day, resulting in a record-breaking daily growth of 367% of the 65-Day Volume Moving Average
- 3/5/22 8:05 AM: The volume for Clearside Biomedical stock increased for one day, resulting in a record-breaking daily growth of 398% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Negative Outlook today, backed by the Aroon Indicator. Tickeron has a negative outlook on this group and predicts a further decline by more than 4.00% within the next month with a likelihood of 60%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.02.
7 stocks in the group of tickers confirmed the negative outlook based on the TrendMonth indicator with average odds of 56%.
The most notable companies in this group are Eli Lilly & Co (NYSE:LLY), Merck & Co (NYSE:MRK), Bristol-Myers Squibb Co (NYSE:BMY).
The average market capitalization across the group is 112.2B. The market cap for tickers in the group ranges from 13M to 277.1B. LLY holds the highest valuation in this group at 277.1B. The lowest valued company is YMTX at 13M.
The average weekly price growth across all stocks in the group was 1.36%. For the same group, the average monthly price growth was -9.57%, and the average quarterly price growth was -13.04%. RPRX experienced the highest price growth at 7.27%, while YMTX experienced the biggest fall at -12.2%.
- 5/12/22 5:38 AM: GlaxoSmithKline (GSK, $42.53) was a top loser this week, declining -5.82%
- 5/12/22 5:38 AM: Yumanity Therapeutics (YMTX, $1.04) is a top weekly loser for penny stocks, falling -21.21%
- 5/7/22 5:28 AM: Royalty Pharma (RPRX, $39.72) was a top loser this week, declining -6.72%
The average weekly volume growth across all stocks in the group was -66.81%. For the same stocks of the group, the average monthly volume growth was -52.82% and the average quarterly volume growth was -60.97%
- 3/25/22 6:03 AM: The volume for Yumanity Therapeutics stock increased for one day, resulting in a record-breaking daily growth of 661% of the 65-Day Volume Moving Average
- 3/23/22 4:46 AM: The volume for Yumanity Therapeutics stock increased for one day, resulting in a record-breaking daily growth of 268% of the 65-Day Volume Moving Average
- 2/18/22 6:25 AM: The volume for Yumanity Therapeutics stock increased for one day, resulting in a record-breaking daily growth of 204% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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