Clearside Biomedical (NASDAQ:CLSD) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Clearside Biomedical (NASDAQ:CLSD) issued its quarterly earnings results on Tuesday. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04, Zacks reports. The firm had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same period in the previous year, the company earned ($0.15) earnings per share.

Clearside Biomedical Price Performance

Shares of CLSD stock traded down $0.02 on Thursday, hitting $1.06. The stock had a trading volume of 78,860 shares, compared to its average volume of 400,501. The company’s 50 day moving average price is $1.19 and its 200-day moving average price is $1.19. The firm has a market capitalization of $79.16 million, a P/E ratio of -2.36 and a beta of 2.33. Clearside Biomedical has a 1 year low of $0.90 and a 1 year high of $2.12.

Insider Transactions at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong acquired 36,500 shares of Clearside Biomedical stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at approximately $100,000. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CLSD. Chardan Capital reiterated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Monday, October 14th. Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Wednesday. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday. Finally, StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Clearside Biomedical presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.