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.
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Notable companies
The most notable companies in this group are Regeneron Pharmaceuticals (NASDAQ:REGN), Moderna (NASDAQ:MRNA), Sarepta Therapeutics (NASDAQ:SRPT), Incyte Corp (NASDAQ:INCY), Exelixis (NASDAQ:EXEL), Arrowhead Pharmaceuticals (NASDAQ:ARWR), Novavax (NASDAQ:NVAX), BioCryst Pharmaceuticals (NASDAQ:BCRX), Adaptive Biotechnologies Corp (NASDAQ:ADPT), Inovio Pharmaceuticals (NASDAQ:INO).
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 2.93B. The market cap for tickers in the group ranges from 151 to 570.15B. NONOF holds the highest valuation in this group at 570.15B. The lowest valued company is MYMX at 151.
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 19%, and the average quarterly price growth was 20%. PIRS experienced the highest price growth at 127%, while NYMXF experienced the biggest fall at -94%.
Volume
The average weekly volume growth across all stocks in the Biotechnology Industry was -34%. For the same stocks of the Industry, the average monthly volume growth was -6% and the average quarterly volume growth was 54%
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: 58
SMR Rating: 94
Profit Risk Rating: 93
Seasonality Score: -10 (-100 ... +100)