Needham analyst Serge Belanger has maintained their bullish stance on CLSD stock, giving a Buy rating today.
Serge Belanger has given his Buy rating due to a combination of factors surrounding Clearside Biomedical’s strategic initiatives and financial positioning. The company’s recent corporate update highlighted the upcoming Phase 3 program for CLS-AX in wet age-related macular degeneration (wAMD), which is designed to offer flexible maintenance dosing intervals. This program is expected to enhance the likelihood of success through careful patient selection and trial design.
However, the initiation of this Phase 3 program is dependent on securing additional funding or entering into a development partnership. Despite the financial requirements, Clearside Biomedical ended 2024 with approximately $20 million in cash, providing them with operational runway into the fourth quarter of 2025. The Buy rating is maintained with a price target adjustment to $4, reflecting the updated model that anticipates a potential CLS-AX launch in 2029, a year later than previously estimated.
According to TipRanks, Belanger is a 3-star analyst with an average return of 1.1% and a 38.80% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Evolus, Trevi Therapeutics, and BioCryst.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $5.00 price target.