In a report released today, Debanjana Chatterjee from JonesTrading maintained a Buy rating on Clearside Biomedical (CLSD – Research Report), with a price target of $6.00.
Debanjana Chatterjee’s rating is based on several promising developments for Clearside Biomedical. The company has successfully aligned with the FDA on the design of its Phase 3 trial for CLS-AX, following a positive Phase 2 meeting where no safety concerns were raised. This alignment sets a clear path forward for the trial, with detailed updates expected in March 2024, including the initiation timeline and funding strategy, which is likely to involve strategic partnerships and investor fundraising.
Additionally, Clearside Biomedical’s competitive positioning in the wet AMD market is strengthened by CLS-AX’s potential for greater durability compared to existing treatments like Regeneron’s Eylea-HD and Roche’s Vabysmo. The flexibility in dosing and the financial incentives for physicians to adopt the suprachoroidal injection technique further enhance its market appeal. The planned Phase 3 study aims to demonstrate the noninferiority of CLS-AX compared to Eylea, which could solidify its standing in the market.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CLSD in relation to earlier this year.