Clearside Biomedical (CLSD) PT Raised to $23 at Stifel following NDR
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Stifel analyst Annabel Samimy reiterated a Buy rating and lifted her price target on Clearside Biomedical (NASDAQ: CLSD) to $23.00 (from $13.00) after taking the company on the road.
Samimy commented, "Last week, we took CLSD on the road to detail its injectable ophthalmology platform targeted at the suprachoroidal space (SCS), with much of the focus on the Phase 2 RVO data and the overall profile of Zuprata relative to standard corticosteroid, intravitreal delivery. Recall, the Phase 2 RVO study (TANZANITE) showed that the Zuprata/Eylea combination over Eylea-alone conferred greater improvements in BCVA and retinal thickness and a more rapid onset-of-action (e.g. Month 1). Looking ahead, CLSD looks to engage in a number of clinical studies while beginning its pre-commercialization activities next year to support its later-stage Zuprata/uveitis program (2018 filing). While its cash position remains steady through 2H17, management has clear plans to expand its clinical pipeline and commercial activities to maximize this program. Raise TP to $23."
Shares of Clearside Biomedical closed at $18.88 yesterday.
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