Wall Street brokerages forecast that Clearside Biomedical Inc (NASDAQ:CLSD) will post earnings per share of ($0.57) for the current quarter, according to Zacks. Zero analysts have made estimates for Clearside Biomedical’s earnings. The highest EPS estimate is ($0.51) and the lowest is ($0.69). Clearside Biomedical posted earnings per share of ($0.54) in the same quarter last year, which suggests a negative year-over-year growth rate of 5.6%. The company is scheduled to announce its next quarterly earnings results on Wednesday, August 8th.
On average, analysts expect that Clearside Biomedical will report full-year earnings of ($2.39) per share for the current fiscal year, with EPS estimates ranging from ($2.88) to ($2.18). For the next financial year, analysts expect that the firm will report earnings of ($2.01) per share, with EPS estimates ranging from ($2.72) to ($1.43). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Clearside Biomedical.
Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Wednesday, May 9th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.05). Clearside Biomedical had a negative net margin of 17,094.20% and a negative return on equity of 131.37%.
Several brokerages recently issued reports on CLSD. ValuEngine raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. JMP Securities set a $25.00 price objective on shares of Clearside Biomedical and gave the company a “buy” rating in a research note on Saturday, June 9th. BidaskClub downgraded shares of Clearside Biomedical from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 8th. Wedbush reissued an “outperform” rating and set a $29.00 price objective on shares of Clearside Biomedical in a research note on Friday, May 11th. Finally, Needham & Company LLC upped their price objective on shares of Clearside Biomedical from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 6th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $20.80.
In related news, Director Gerald D. Cagle purchased 7,500 shares of the company’s stock in a transaction that occurred on Thursday, March 22nd. The stock was purchased at an average price of $11.89 per share, with a total value of $89,175.00. Following the completion of the transaction, the director now owns 23,441 shares of the company’s stock, valued at approximately $278,713.49. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel H. White purchased 11,000 shares of the company’s stock in a transaction that occurred on Monday, June 4th. The shares were bought at an average cost of $9.07 per share, with a total value of $99,770.00. Following the transaction, the insider now directly owns 472,335 shares of the company’s stock, valued at approximately $4,284,078.45. The disclosure for this purchase can be found here. Insiders have purchased 19,000 shares of company stock valued at $194,840 in the last ninety days. 15.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of CLSD. Sphera Funds Management LTD. increased its position in shares of Clearside Biomedical by 50.0% in the fourth quarter. Sphera Funds Management LTD. now owns 450,000 shares of the company’s stock worth $3,150,000 after acquiring an additional 150,000 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Clearside Biomedical in the fourth quarter worth $124,000. Millennium Management LLC acquired a new stake in shares of Clearside Biomedical in the fourth quarter worth $178,000. Rock Springs Capital Management LP increased its position in shares of Clearside Biomedical by 4.3% in the first quarter. Rock Springs Capital Management LP now owns 975,000 shares of the company’s stock worth $10,462,000 after acquiring an additional 40,000 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of Clearside Biomedical in the first quarter worth $161,000. 61.48% of the stock is owned by hedge funds and other institutional investors.
Shares of Clearside Biomedical traded up $0.36, hitting $10.49, on Thursday, according to Marketbeat. 427,515 shares of the stock traded hands, compared to its average volume of 710,926. The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.46 and a current ratio of 7.46. The company has a market capitalization of $306.37 million, a price-to-earnings ratio of -4.50 and a beta of -7.22. Clearside Biomedical has a 1 year low of $5.30 and a 1 year high of $15.33.
Clearside Biomedical Company Profile
Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.
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