Clearside Biomedical (NASDAQ:CLSD) Posts Earnings Results, Beats Estimates By $0.03 EPS

Clearside Biomedical (NASDAQ:CLSD) posted its quarterly earnings results on Thursday. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03, Zacks reports. The firm had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.27 million.

Clearside Biomedical Trading Up 1.0 %

CLSD stock opened at $1.03 on Friday. The firm has a 50 day moving average of $0.96 and a 200-day moving average of $1.05. The firm has a market capitalization of $78.12 million, a P/E ratio of -2.29 and a beta of 2.10. Clearside Biomedical has a 12 month low of $0.77 and a 12 month high of $1.73.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Tuesday, March 18th. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Friday. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, March 6th. Finally, Needham & Company LLC dropped their target price on Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.25.

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.