Brokerages expect that Clearside Biomedical Inc (NASDAQ:CLSD) will announce ($0.56) earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for Clearside Biomedical’s earnings, with the lowest EPS estimate coming in at ($0.76) and the highest estimate coming in at ($0.32). Clearside Biomedical posted earnings per share of ($0.65) in the same quarter last year, which indicates a positive year over year growth rate of 13.8%. The firm is expected to report its next earnings results on Wednesday, March 13th.
On average, analysts expect that Clearside Biomedical will report full year earnings of ($2.57) per share for the current year, with EPS estimates ranging from ($2.77) to ($2.33). For the next fiscal year, analysts forecast that the firm will report earnings of ($1.31) per share, with EPS estimates ranging from ($1.50) to ($1.04). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Clearside Biomedical.
Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Thursday, November 8th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12).
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Clearside Biomedical from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a report on Thursday, January 3rd. Cowen downgraded Clearside Biomedical from an “outperform” rating to a “market perform” rating in a report on Monday, November 5th. JPMorgan Chase & Co. downgraded Clearside Biomedical from an “overweight” rating to an “underweight” rating in a report on Monday, November 5th. Laidlaw set a $5.00 price target on Clearside Biomedical and gave the company a “buy” rating in a report on Tuesday, November 6th. Finally, Janney Montgomery Scott set a $4.00 price target on Clearside Biomedical and gave the company a “buy” rating in a report on Tuesday, November 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $11.28.
Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in Clearside Biomedical in the fourth quarter valued at about $57,000. Voya Investment Management LLC bought a new position in shares of Clearside Biomedical in the second quarter worth about $123,000. Bank of America Corp DE raised its stake in shares of Clearside Biomedical by 915.6% in the second quarter. Bank of America Corp DE now owns 16,574 shares of the company’s stock worth $177,000 after buying an additional 14,942 shares during the period. Trexquant Investment LP bought a new position in shares of Clearside Biomedical in the third quarter worth about $188,000. Finally, Engineers Gate Manager LP bought a new position in shares of Clearside Biomedical in the third quarter worth about $202,000. 57.94% of the stock is currently owned by institutional investors.
Shares of NASDAQ:CLSD traded up $0.03 during midday trading on Tuesday, reaching $1.16. 268,521 shares of the company’s stock traded hands, compared to its average volume of 679,640. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.22. Clearside Biomedical has a one year low of $0.99 and a one year high of $15.33.
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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