In a report released today, Debanjana Chatterjee from JonesTrading downgraded Clearside Biomedical to a Hold, with a price target of $6.00.
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Debanjana Chatterjee’s rating is based on several factors influencing Clearside Biomedical’s strategic direction and financial position. The company is currently exploring various strategic alternatives to enhance shareholder value, such as potential sales, partnerships, or mergers. This exploration indicates a period of uncertainty about the company’s future, which contributes to the Hold rating.
Additionally, Clearside Biomedical faces financial constraints, with a cash balance that only extends its runway into late 2025. The high costs associated with advancing their promising clinical assets, like the CLS-AX for wet AMD, further complicate their ability to progress without significant funding. While there is potential for larger players in the ophthalmology sector to show interest in their assets, the timing and outcome of such strategic reviews remain uncertain, justifying the Hold rating.
In another report released on July 15, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $1.00 price target.