Clearside Biomedical (CLSD) Set to Announce Quarterly Earnings on Thursday

Clearside Biomedical (NASDAQ:CLSD) is scheduled to be releasing its earnings data after the market closes on Thursday, May 9th. Analysts expect Clearside Biomedical to post earnings of ($0.14) per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Tuesday, March 12th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $6.35 million for the quarter, compared to analysts’ expectations of $3.40 million. On average, analysts expect Clearside Biomedical to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Clearside Biomedical Stock Up 0.8 %

Shares of NASDAQ:CLSD opened at $1.27 on Thursday. Clearside Biomedical has a fifty-two week low of $0.65 and a fifty-two week high of $2.12. The firm’s 50 day moving average price is $1.45 and its 200 day moving average price is $1.23. The stock has a market cap of $94.89 million, a price-to-earnings ratio of -2.40 and a beta of 2.29.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CLSD. Wedbush restated an “outperform” rating and issued a $4.00 price objective (down from $5.00) on shares of Clearside Biomedical in a report on Wednesday, March 13th. JMP Securities reaffirmed a “market outperform” rating and set a $5.00 price target on shares of Clearside Biomedical in a report on Wednesday, March 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price objective on shares of Clearside Biomedical in a research report on Thursday, April 11th. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, March 14th. Finally, StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.75.

Insiders Place Their Bets

In other news, insider Ngai Hang Victor Chong bought 30,000 shares of Clearside Biomedical stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average cost of $1.60 per share, with a total value of $48,000.00. Following the acquisition, the insider now owns 30,000 shares of the company’s stock, valued at $48,000. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Clearside Biomedical news, major shareholder Bradford T. Whitmore acquired 444,444 shares of the stock in a transaction on Wednesday, February 7th. The shares were bought at an average cost of $1.35 per share, with a total value of $599,999.40. Following the transaction, the insider now owns 4,495,034 shares of the company’s stock, valued at approximately $6,068,295.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ngai Hang Victor Chong bought 30,000 shares of Clearside Biomedical stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average cost of $1.60 per share, with a total value of $48,000.00. Following the completion of the acquisition, the insider now directly owns 30,000 shares of the company’s stock, valued at approximately $48,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 481,154 shares of company stock valued at $656,387. 9.80% of the stock is currently owned by insiders.

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.