JMP Securities analyst Jonathan Wolleben has reiterated their bullish stance on CLSD stock, giving a Buy rating on March 6.
Jonathan Wolleben has given his Buy rating due to a combination of factors that highlight the potential of Clearside Biomedical’s CLS-AX in the wet AMD market. The recent post hoc analyses from the Phase 2b ODYSSEY trial indicate that CLS-AX has achieved rescue-free rates comparable to its competitors, particularly when using more lenient rescue criteria. This suggests that CLS-AX is competitive with other TKI treatments, which is a positive indicator for its market performance.
Moreover, the design of the upcoming Phase 3 trial is expected to support a more flexible dosing regimen, allowing for intervals of every three to six months. This flexibility could be appealing to physicians and may enhance the drug’s adoption in clinical practice. Despite the need for additional capital to initiate Phase 3 trials, the company’s current financial position provides a runway into the third quarter of 2025, which supports the ongoing development and potential success of CLS-AX.
In another report released on March 6, Needham also maintained a Buy rating on the stock with a $6.00 price target.