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Abhoy Sarkar's Avatar
published in Blogs
Jun 17, 2021

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.

Related Ticker: CLSD

CLSD in downward trend: 10-day moving average broke below 50-day moving average on May 24, 2023

The 10-day moving average for CLSD crossed bearishly below the 50-day moving average on May 24, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 13 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 .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on May 30, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on CLSD as a result. In of 82 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

CLSD moved below its 50-day moving average on May 30, 2023 date and that indicates a change from an upward trend to a downward trend.

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 of 62 cases within the following month. The odds of a continued downward trend are .

CLSD broke above its upper Bollinger Band on May 10, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

The Aroon Indicator for CLSD entered a downward trend on May 09, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 69 cases where CLSD's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for CLSD just turned positive on May 22, 2023. Looking at past instances where CLSD's MACD turned positive, the stock continued to rise in of 42 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CLSD advanced for three days, in of 221 cases, the price rose further within the following month. The odds of a continued upward trend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady 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 (best 1 - 100 worst), pointing to slightly better than average 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.

The Tickeron Valuation Rating of (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 (24.213) is normal, around the industry mean (24.864). P/E Ratio (161.290) is within average values for comparable stocks, (122.914). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (4.287). Dividend Yield (0.000) settles around the average of (0.030) among similar stocks. P/S Ratio (65.359) is also within normal values, averaging (303.544).

The Tickeron SMR rating for this company is (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 (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 95, placing this stock worse than average.

Notable companies

The most notable companies in this group are Regeneron Pharmaceuticals (NASDAQ:REGN), Moderna (NASDAQ:MRNA), Incyte Corp (NASDAQ:INCY), Sarepta Therapeutics (NASDAQ:SRPT), Exelixis (NASDAQ:EXEL), Arrowhead Pharmaceuticals (NASDAQ:ARWR), BioCryst Pharmaceuticals (NASDAQ:BCRX), Adaptive Biotechnologies Corp (NASDAQ:ADPT), Novavax (NASDAQ:NVAX), Sorrento Therapeutics, Inc. (OTC:SRNEQ).

Industry description

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.

Market Cap

The average market capitalization across the Biotechnology Industry is 2.12B. The market cap for tickers in the group ranges from 365 to 367.4B. NONOF holds the highest valuation in this group at 367.4B. The lowest valued company is CLAZF at 365.

High and low price notable news

The average weekly price growth across all stocks in the Biotechnology Industry was -3%. For the same Industry, the average monthly price growth was 45%, and the average quarterly price growth was 50%. CYADY experienced the highest price growth at 167%, while CLYYF experienced the biggest fall at -89%.

Volume

The average weekly volume growth across all stocks in the Biotechnology Industry was -28%. For the same stocks of the Industry, the average monthly volume growth was 13% and the average quarterly volume growth was -66%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 50
P/E Growth Rating: 85
Price Growth Rating: 56
SMR Rating: 93
Profit Risk Rating: 94
Seasonality Score: 18 (-100 ... +100)
Related Portfolios: BIOTECHNOLOGY SECTOR
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a developer of drug therapies to treat chronic, blinding diseases of the eye

Industry Biotechnology

Profile
Fundamentals
Details
Industry
Pharmaceuticals Major
Address
900 North Point Parkway
Phone
+1 678 270-3631
Employees
36
Web
https://www.clearsidebio.com
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CLSD and

Correlation & Price change

A.I.dvisor indicates that over the last year, CLSD has been loosely correlated with VBIV. These tickers have moved in lockstep 37% of the time. This A.I.-generated data suggests there is some statistical probability that if CLSD jumps, then VBIV could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To CLSD
1D Price
Change %
CLSD100%
-0.93%
VBIV - CLSD
37%
Loosely correlated
+5.04%
VCYT - CLSD
36%
Loosely correlated
+0.39%
SRNEQ - CLSD
36%
Loosely correlated
+5.82%
EIGR - CLSD
35%
Loosely correlated
-1.74%
ARCT - CLSD
34%
Loosely correlated
-2.10%
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