Yi Chen, an analyst from H.C. Wainwright, reiterated the Buy rating on Clearside Biomedical (CLSD – Research Report). The associated price target is $6.00.
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Yi Chen has given his Buy rating due to a combination of factors that highlight the promising potential of Clearside Biomedical’s CLS-AX treatment for wet AMD. The company’s alignment with the FDA on the Phase 3 trial design, which includes two pivotal trials comparing CLS-AX to aflibercept, is a significant step forward. The trials’ design, which incorporates flexible maintenance dosing and detailed re-dosing criteria, aims to enhance the treatment’s commercial viability by minimizing the need for rescue treatments.
Moreover, the positive results from the Phase 2b ODYSSEY trial further support the Buy rating. The trial demonstrated that CLS-AX maintained stable visual acuity and anatomical outcomes over a 36-week period, with a substantial portion of patients not requiring additional treatment for up to 24 weeks. Additionally, the absence of serious adverse events in the trial underscores the treatment’s safety profile. These factors collectively contribute to the optimistic outlook for Clearside Biomedical, justifying the Buy rating and the $6 price target.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $5.00 price target.
CLSD’s price has also changed slightly for the past six months – from $0.970 to $0.976, which is a 0.62% increase.