Clearside Biomedical (NASDAQ:CLSD) Releases Earnings Results

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

Clearside Biomedical Trading Down 2.3 %

NASDAQ:CLSD traded down $0.03 on Thursday, reaching $1.06. 80,459 shares of the stock traded hands, compared to its average volume of 400,508. Clearside Biomedical has a 1-year low of $0.90 and a 1-year high of $2.12. The company’s 50 day moving average is $1.19 and its 200-day moving average is $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.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CLSD shares. Chardan Capital restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Monday, October 14th. StockNews.com downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research 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 research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Insider Transactions at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the acquisition, the insider now owns 100,000 shares of the company’s stock, valued at approximately $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. Corporate insiders own 9.20% of the company’s stock.

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.