Clearside Biomedical Inc (CLSD) Expected to Post Earnings of -$0.63 Per Share

Equities analysts expect Clearside Biomedical Inc (NASDAQ:CLSD) to announce ($0.63) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Clearside Biomedical’s earnings, with the highest EPS estimate coming in at ($0.50) and the lowest estimate coming in at ($0.72). Clearside Biomedical posted earnings of ($0.72) per share during the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The business is expected to announce its next earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Clearside Biomedical will report full-year earnings of ($2.53) per share for the current year, with EPS estimates ranging from ($2.73) to ($2.35). For the next year, analysts anticipate that the business will report earnings of ($2.19) per share, with EPS estimates ranging from ($2.63) to ($1.64). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Clearside Biomedical.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Wednesday, August 8th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.07).

Several equities analysts have recently weighed in on the stock. BidaskClub upgraded shares of Clearside Biomedical from a “hold” rating to a “buy” rating in a research note on Saturday, June 16th. Zacks Investment Research downgraded shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Janney Montgomery Scott assumed coverage on shares of Clearside Biomedical in a research note on Thursday, June 28th. They issued a “buy” rating for the company. ValuEngine downgraded shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. Finally, 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 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Clearside Biomedical currently has an average rating of “Buy” and a consensus target price of $22.40.

Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of Clearside Biomedical by 43.2% in the second quarter. Rhumbline Advisers now owns 26,703 shares of the company’s stock valued at $285,000 after acquiring an additional 8,057 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Clearside Biomedical by 7.5% in the first quarter. Russell Investments Group Ltd. now owns 122,039 shares of the company’s stock valued at $1,309,000 after acquiring an additional 8,471 shares during the period. Trustcore Financial Services LLC boosted its position in shares of Clearside Biomedical by 280.3% in the second quarter. Trustcore Financial Services LLC now owns 14,585 shares of the company’s stock valued at $156,000 after acquiring an additional 10,750 shares during the period. MetLife Investment Advisors LLC bought a new position in shares of Clearside Biomedical in the first quarter valued at approximately $117,000. Finally, Voya Investment Management LLC bought a new position in shares of Clearside Biomedical in the second quarter valued at approximately $123,000. Institutional investors own 62.42% of the company’s stock.

Shares of CLSD traded down $0.22 during trading hours on Friday, hitting $5.36. The company’s stock had a trading volume of 169,426 shares, compared to its average volume of 521,813. The company has a market capitalization of $196.95 million, a price-to-earnings ratio of -2.30 and a beta of -7.37. The company has a quick ratio of 7.94, a current ratio of 7.94 and a debt-to-equity ratio of 0.15. Clearside Biomedical has a 52-week low of $5.30 and a 52-week 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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