Serge Belanger, an analyst from Needham, maintained the Buy rating on Clearside Biomedical (CLSD – Research Report). The associated price target is $6.00.
Serge Belanger has given his Buy rating due to a combination of factors related to Clearside Biomedical’s strategic advancements in their CLS-AX program for wet age-related macular degeneration (wAMD). The company has successfully aligned with the FDA on a pivotal Phase 3 program, which is a significant milestone. This program includes two non-inferiority trials comparing CLS-AX to Eylea, targeting a total enrollment of approximately 900 patients.
Belanger highlights the potential competitive advantage of CLS-AX’s dosing regimen, which could offer less frequent dosing compared to current therapies like Lucentis and Eylea. This could position CLS-AX favorably in the market, especially as it aligns with the standard of care while offering improved dosing flexibility. However, securing additional funding or partnerships is crucial for the successful execution of these trials, which is a key step moving forward.
According to TipRanks, Belanger is an analyst with an average return of -0.4% and a 39.96% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Revance Therapeutics, Viridian Therapeutics, and Evolus.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $5.00 price target.
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