Needham analyst Serge Belanger has maintained their neutral stance on CLSD stock, giving a Hold rating on November 1.
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Serge Belanger has given his Hold rating due to a combination of factors affecting Clearside Biomedical. The company is currently facing challenges in securing necessary funding or partnerships to advance its CLS-AX program into the next phase of development. This uncertainty has led the company to explore strategic alternatives to maximize shareholder value, including hiring an investment bank for guidance.
Additionally, the company’s financial situation is precarious, with only $7 million in cash reserves, which is expected to sustain operations only through the end of 2025. The transition of all employees and management to consultant roles and the incurred costs related to severance and employee terminations further highlight the company’s current instability. These factors contribute to the decision to maintain a Hold rating, reflecting the need for caution until there is more clarity on the company’s strategic direction and financial health.
In another report released on November 1, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $4.00 price target.