Clearside Biomedical (NASDAQ:CLSD) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Clearside Biomedical (NASDAQ:CLSD) released its quarterly earnings data on Tuesday. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04, Zacks reports. The company had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter in the prior year, the company posted ($0.15) EPS.

Clearside Biomedical Trading Down 3.2 %

Shares of NASDAQ:CLSD traded down $0.04 during trading on Thursday, hitting $1.05. 90,102 shares of the stock were exchanged, compared to its average volume of 400,552. The company has a market cap of $78.09 million, a PE ratio of -2.36 and a beta of 2.33. Clearside Biomedical has a 12-month low of $0.90 and a 12-month high of $2.12. The company has a fifty day moving average price of $1.19 and a two-hundred day moving average price of $1.19.

Insider Buying and Selling at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong bought 36,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the acquisition, the insider now owns 100,000 shares in the company, valued at $100,000. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday. Finally, Chardan Capital reiterated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat.com, Clearside Biomedical currently has an average rating of “Moderate Buy” and an average target price of $5.33.

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.