Clearside Biomedical (CLSD – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Yi Chen from H.C. Wainwright reiterated a Buy rating on the stock and has a $6.00 price target.
Yi Chen has given his Buy rating due to a combination of factors related to Clearside Biomedical’s recent developments and trial results. The company has aligned with the FDA on its Phase 3 program for wet AMD, which includes two pivotal trials comparing CLS-AX to aflibercept. This program is significant as it involves a personalized treatment interval assessment, allowing for flexible dosing schedules that could enhance patient outcomes.
Furthermore, the positive results from the Phase 2b ODYSSEY trial, where CLS-AX maintained stable visual acuity and central subfield thickness, bolster confidence in the drug’s efficacy. A notable percentage of patients did not require additional treatment for up to six months, demonstrating the potential for reduced treatment frequency. Despite the need for additional capital to fund the Phase 3 program, these promising clinical developments support the Buy rating and the $6 price target.
According to TipRanks, Chen is an analyst with an average return of -16.0% and a 30.04% success rate. Chen covers the Healthcare sector, focusing on stocks such as Opko Health, Harrow Health, and RegenXBio.
In another report released on March 28, Stifel Nicolaus also maintained a Buy rating on the stock with a $8.00 price target.