Clearside Biomedical (NASDAQ:CLSD) posted its earnings results on Thursday. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12), Fidelity Earnings reports.
Shares of Clearside Biomedical stock traded down $0.14 during midday trading on Friday, reaching $1.84. The company had a trading volume of 707,532 shares, compared to its average volume of 703,408. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.94 and a quick ratio of 7.94. The firm has a market cap of $70.13 million, a P/E ratio of -0.79 and a beta of -3.98. Clearside Biomedical has a 1-year low of $1.83 and a 1-year high of $15.33.
Several institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC acquired a new stake in Clearside Biomedical during the 2nd quarter worth $123,000. Highland Capital Management LLC acquired a new stake in Clearside Biomedical during the 2nd quarter worth $128,000. Cubist Systematic Strategies LLC acquired a new stake in Clearside Biomedical during the 1st quarter worth $132,000. Dynamic Technology Lab Private Ltd acquired a new stake in Clearside Biomedical during the 1st quarter worth $152,000. Finally, Trustcore Financial Services LLC grew its holdings in Clearside Biomedical by 280.3% during the 2nd quarter. Trustcore Financial Services LLC now owns 14,585 shares of the company’s stock worth $156,000 after acquiring an additional 10,750 shares during the period. 62.23% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. ValuEngine raised shares of Clearside Biomedical from a “hold” rating to a “buy” rating in a report on Tuesday. Needham & Company LLC set a $4.00 price target on shares of Clearside Biomedical and gave the company a “buy” rating in a report on Tuesday. Laidlaw set a $5.00 price target on shares of Clearside Biomedical and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. lowered shares of Clearside Biomedical from an “overweight” rating to an “underweight” rating in a report on Monday, November 5th. Finally, BidaskClub lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Saturday, August 4th. 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. The stock presently has a consensus rating of “Hold” and a consensus price target 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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