Clearside Biomedical (NASDAQ:CLSD) issued its quarterly earnings results on Thursday. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.12), Fidelity Earnings reports.
NASDAQ:CLSD traded down $0.14 on Friday, reaching $1.84. 707,532 shares of the stock traded hands, compared to its average volume of 703,408. The firm has a market cap of $70.13 million, a P/E ratio of -0.79 and a beta of -3.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.94 and a current ratio of 7.94. Clearside Biomedical has a 12 month low of $1.83 and a 12 month high of $15.33.
A number of large investors have recently added to or reduced their stakes in CLSD. Northpointe Capital LLC bought a new stake in Clearside Biomedical during the 2nd quarter valued at about $8,725,000. BlackRock Inc. increased its stake in Clearside Biomedical by 53.1% during the 2nd quarter. BlackRock Inc. now owns 1,859,948 shares of the company’s stock valued at $19,883,000 after purchasing an additional 645,292 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Clearside Biomedical by 712.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 289,626 shares of the company’s stock valued at $1,781,000 after purchasing an additional 253,981 shares in the last quarter. AWM Investment Company Inc. increased its stake in Clearside Biomedical by 31.6% during the 3rd quarter. AWM Investment Company Inc. now owns 875,126 shares of the company’s stock valued at $5,382,000 after purchasing an additional 210,131 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Clearside Biomedical during the 2nd quarter valued at about $2,138,000. Institutional investors and hedge funds own 62.23% of the company’s stock.
Several research analysts recently issued reports on the stock. BidaskClub lowered shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a research note on Friday, July 20th. Zacks Investment Research upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Monday, August 13th. Laidlaw assumed coverage on shares of Clearside Biomedical in a research note on Monday, July 16th. They issued a “buy” rating and a $18.00 price target for the company. Cowen lowered shares of Clearside Biomedical from an “outperform” rating to a “market perform” rating in a research note on Monday, November 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $4.00 price target (down from $20.00) on shares of Clearside Biomedical in a research note on Monday, November 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Clearside Biomedical currently has a consensus rating of “Hold” and a consensus target price of $12.71.
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Clearside Biomedical Company Profile
Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.
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