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

Clearside Biomedical (NASDAQ:CLSD) announced its quarterly earnings data on Tuesday. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.04, Zacks reports. The company had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.25 million. During the same quarter in the previous year, the business earned ($0.15) EPS.

Clearside Biomedical Trading Down 1.9 %

CLSD stock traded down $0.02 during midday trading on Thursday, hitting $1.06. The stock had a trading volume of 78,360 shares, compared to its average volume of 400,498. The business has a fifty day moving average price of $1.19 and a two-hundred day moving average price of $1.19. Clearside Biomedical has a 1-year low of $0.90 and a 1-year high of $2.12. The firm has a market cap of $79.21 million, a P/E ratio of -2.36 and a beta of 2.33.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $1.00 per share, with a total value of $36,500.00. Following the completion of the purchase, the insider now owns 100,000 shares in the company, valued at $100,000. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.20% of the stock is owned by company insiders.

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.