Wall Street analysts expect that Clearside Biomedical Inc (NASDAQ:CLSD) will announce ($0.41) earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Clearside Biomedical’s earnings, with the highest EPS estimate coming in at ($0.32) and the lowest estimate coming in at ($0.53). Clearside Biomedical posted earnings of ($0.62) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 33.9%. The firm is scheduled to report its next quarterly earnings report on Thursday, August 10th.
According to Zacks, analysts expect that Clearside Biomedical will report full-year earnings of ($1.72) per share for the current financial year, with EPS estimates ranging from ($2.21) to ($1.36). For the next fiscal year, analysts expect that the company will post earnings of ($1.92) per share, with EPS estimates ranging from ($2.36) to ($1.28). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Clearside Biomedical.
Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Wednesday, May 10th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. The business had revenue of $0.01 million for the quarter.
A number of research firms have issued reports on CLSD. JPMorgan Chase & Co. began coverage on shares of Clearside Biomedical in a report on Friday, February 24th. They issued an “overweight” rating and a $19.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $28.00 price objective on shares of Clearside Biomedical in a report on Tuesday, February 21st. They noted that the move was a valuation call. Zacks Investment Research raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Monday, March 27th. Needham & Company LLC cut their price objective on shares of Clearside Biomedical to $18.00 and set a “buy” rating for the company in a report on Tuesday, March 14th. Finally, Cowen and Company reissued a “buy” rating and issued a $15.00 price objective on shares of Clearside Biomedical in a report on Thursday, May 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $20.67.
In other Clearside Biomedical news, insider Daniel H. White sold 8,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $8.41, for a total value of $67,280.00. Following the completion of the sale, the insider now owns 511,267 shares of the company’s stock, valued at approximately $4,299,755.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Clay Thorp sold 68,485 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $6.56, for a total transaction of $449,261.60. The disclosure for this sale can be found here. Insiders sold a total of 343,995 shares of company stock valued at $2,624,121 in the last three months.
A number of hedge funds have recently bought and sold shares of CLSD. A.R.T. Advisors LLC acquired a new stake in Clearside Biomedical during the fourth quarter worth about $101,000. Teachers Advisors LLC increased its stake in Clearside Biomedical by 47.9% in the fourth quarter. Teachers Advisors LLC now owns 12,918 shares of the company’s stock worth $115,000 after buying an additional 4,181 shares in the last quarter. Wells Fargo & Company MN increased its stake in Clearside Biomedical by 325.0% in the first quarter. Wells Fargo & Company MN now owns 16,739 shares of the company’s stock worth $133,000 after buying an additional 12,800 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Clearside Biomedical by 30.7% in the first quarter. TIAA CREF Investment Management LLC now owns 19,257 shares of the company’s stock worth $153,000 after buying an additional 4,527 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in Clearside Biomedical during the first quarter worth about $178,000. 33.52% of the stock is owned by hedge funds and other institutional investors.
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Clearside Biomedical Company Profile
Clearside Biomedical, Inc is a clinical biopharmaceutical company developing first-in-class drug therapies to treat blinding diseases of the eye. The Company’s product candidates focus on diseases affecting the retina, which is the tissue that lines the inside of the eye and is primarily responsible for vision, and the choroid, which is the layer adjacent to the retina that supplies the retina with blood, oxygen and nourishment.
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