Clearside Biomedical initiated with a Buy at JonesResearch

JonesResearch analyst Sean Kim initiated coverage of Clearside Biomedical with a Buy rating and $6 price target. Clearside is a biopharmaceutical company with its lead asset CLS-AX in development for the treatment of wet age-related macular degeneration, the analyst tells investors in a research note. The firm says CLS-AX is a potential first-in-class and best-in-class drug-device combination. It believes wet AMD presents a potential blockbuster market opportunity for CLS-AX a six-month maintenance therapy.