Equities analysts expect Clearside Biomedical Inc (NASDAQ:CLSD) to post earnings per share (EPS) of ($0.06) for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Clearside Biomedical’s earnings. The lowest EPS estimate is ($0.08) and the highest is ($0.03). Clearside Biomedical posted earnings of ($0.15) per share during the same quarter last year, which indicates a positive year over year growth rate of 60%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 5th.
On average, analysts expect that Clearside Biomedical will report full-year earnings of ($0.44) per share for the current fiscal year, with EPS estimates ranging from ($0.58) to ($0.37). For the next financial year, analysts anticipate that the business will report earnings of ($0.41) per share, with EPS estimates ranging from ($0.72) to ($0.02). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Clearside Biomedical.
Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. Clearside Biomedical had a negative return on equity of 165.19% and a negative net margin of 293.61%. The firm had revenue of $4.10 million during the quarter, compared to analysts’ expectations of $4.00 million.
CLSD has been the subject of several recent research reports. Janney Montgomery Scott reaffirmed a “market perform” rating and issued a $5.00 price target on shares of Clearside Biomedical in a report on Thursday, June 4th. Zacks Investment Research cut Clearside Biomedical from a “buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Roth Capital started coverage on Clearside Biomedical in a research note on Wednesday, May 13th. They set a “buy” rating and a $8.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Clearside Biomedical in a research note on Tuesday, April 28th. Finally, ValuEngine raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $5.05.
In other news, CEO George M. Lasezkay sold 32,150 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1.99, for a total transaction of $63,978.50. Following the completion of the transaction, the chief executive officer now directly owns 311,100 shares in the company, valued at $619,089. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 13.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Clearside Biomedical by 1.0% during the first quarter. BlackRock Inc. now owns 757,602 shares of the company’s stock worth $1,289,000 after buying an additional 7,649 shares during the period. Fred Alger Management LLC boosted its position in shares of Clearside Biomedical by 33.3% during the first quarter. Fred Alger Management LLC now owns 40,000 shares of the company’s stock worth $68,000 after buying an additional 10,000 shares during the period. Game Plan Financial Advisors LLC purchased a new position in shares of Clearside Biomedical during the fourth quarter worth $32,000. Integrated Advisors Network LLC purchased a new position in shares of Clearside Biomedical during the fourth quarter worth $46,000. Finally, Geode Capital Management LLC boosted its position in shares of Clearside Biomedical by 12.6% during the fourth quarter. Geode Capital Management LLC now owns 276,035 shares of the company’s stock worth $800,000 after buying an additional 30,856 shares during the period. Institutional investors and hedge funds own 25.74% of the company’s stock.
Shares of NASDAQ:CLSD traded down $0.05 during midday trading on Tuesday, hitting $1.88. The company had a trading volume of 215,841 shares, compared to its average volume of 751,876. Clearside Biomedical has a twelve month low of $0.56 and a twelve month high of $4.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a market cap of $85.25 million, a price-to-earnings ratio of -4.09 and a beta of 1.07. The business’s 50-day simple moving average is $1.99 and its 200-day simple moving average is $2.25.
About Clearside Biomedical
Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to restore and preserve vision for people with serious eye diseases. It develops XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of macular edema associated with uveitis, diabetic macular edema, and macular edema associated with retinal vein occlusion.
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