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

Clearside Biomedical (NASDAQ:CLSD) released its earnings results on Monday. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04, Yahoo Finance reports. The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the previous year, the firm earned ($0.15) EPS.

Clearside Biomedical Trading Down 1.9 %

NASDAQ:CLSD traded down $0.02 during trading hours on Wednesday, reaching $1.05. The company had a trading volume of 31,297 shares, compared to its average volume of 259,216. The firm has a market cap of $78.09 million, a price-to-earnings ratio of -1.94 and a beta of 2.43. The firm’s 50 day moving average price is $1.18 and its 200-day moving average price is $1.32. Clearside Biomedical has a 52 week low of $0.65 and a 52 week high of $2.12.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Clearside Biomedical in a research note on Tuesday. Oppenheimer started coverage on shares of Clearside Biomedical in a research report on Tuesday, June 25th. They set an “outperform” rating and a $5.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 target price on shares of Clearside Biomedical in a research report on Tuesday. Finally, StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $4.60.

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.