Analyst Debanjana Chatterjee of JonesTrading reiterated a Buy rating on Clearside Biomedical (CLSD – Research Report), retaining the price target of $6.00.
Debanjana Chatterjee has given her Buy rating due to a combination of factors related to Clearside Biomedical’s strategic initiatives and financial outlook. The company is actively seeking partnerships to fund its Phase 3 trials for CLS-AX, which is a significant step forward following alignment with the FDA on the trial design. This potential collaboration is expected to provide clarity on the funding strategy, which could serve as a pivotal moment for the stock’s performance.
Additionally, Clearside Biomedical’s current cash position is projected to support operations until the fourth quarter of 2025, indicating a stable financial footing. The anticipated announcements regarding partnerships and the initiation of the Phase 3 study in the second half of 2025 are seen as upcoming catalysts that could enhance investor confidence. Furthermore, the company’s competitive asset in the Phase 3 stage is considered undervalued compared to its peers, suggesting potential for stock appreciation.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $5.00 price target.