Clearside Biomedical (NASDAQ:CLSD) Issues Earnings Results

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

Clearside Biomedical Price Performance

Shares of NASDAQ CLSD traded down $0.03 during mid-day trading on Thursday, reaching $1.06. 80,459 shares of the company’s stock were exchanged, compared to its average volume of 400,508. The firm has a 50-day moving average price of $1.19 and a two-hundred day moving average price of $1.19. The firm has a market capitalization of $78.84 million, a price-to-earnings ratio of -2.36 and a beta of 2.33. Clearside Biomedical has a 52 week low of $0.90 and a 52 week high of $2.12.

Wall Street Analysts Forecast Growth

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

Insider Activity at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong acquired 36,500 shares of the stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $1.00 per share, with a total value of $36,500.00. Following the completion of the transaction, the insider now owns 100,000 shares in the company, valued at approximately $100,000. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 9.20% of the stock is owned by company insiders.

About Clearside Biomedical

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.