Clearside Biomedical (NASDAQ:CLSD) Issues Quarterly Earnings Results

Clearside Biomedical (NASDAQ:CLSD) posted its quarterly earnings results on Tuesday. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04, Zacks reports. The firm had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter last year, the firm earned ($0.15) EPS.

Clearside Biomedical Stock Down 1.9 %

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

Wall Street Analyst Weigh In

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

Insider Activity at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong bought 36,500 shares of the stock in a transaction dated Friday, November 1st. The shares were bought at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the purchase, the insider now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.20% of the stock is owned by 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.