$13.73 Million in Sales Expected for Clearside Biomedical, Inc. (NASDAQ:CLSD) This Quarter

Brokerages predict that Clearside Biomedical, Inc. (NASDAQ:CLSD) will announce sales of $13.73 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Clearside Biomedical’s earnings, with the lowest sales estimate coming in at $3.07 million and the highest estimate coming in at $24.00 million. Clearside Biomedical reported sales of $10,000.00 during the same quarter last year, which indicates a positive year-over-year growth rate of 137,200%. The company is expected to announce its next quarterly earnings report on Wednesday, March 9th.

On average, analysts expect that Clearside Biomedical will report full-year sales of $17.62 million for the current fiscal year, with estimates ranging from $6.96 million to $27.89 million. For the next fiscal year, analysts anticipate that the business will report sales of $12.76 million, with estimates ranging from $4.00 million to $19.57 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Clearside Biomedical.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Wednesday, November 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. Clearside Biomedical had a negative return on equity of 161.73% and a negative net margin of 652.60%. During the same quarter last year, the business posted ($0.05) EPS.

Several equities research analysts have weighed in on the company. JMP Securities restated a “buy” rating and set a $11.00 price target on shares of Clearside Biomedical in a report on Tuesday. HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of Clearside Biomedical in a report on Wednesday, September 22nd. Zacks Investment Research upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Monday, November 15th. Finally, Wedbush restated a “buy” rating and set a $18.00 price target on shares of Clearside Biomedical in a report on Tuesday, September 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $11.95.

In related news, major shareholder Bradford T. Whitmore sold 99,400 shares of the company’s stock in a transaction dated Monday, August 30th. The stock was sold at an average price of $7.06, for a total value of $701,764.00. Following the completion of the sale, the insider now directly owns 3,529,845 shares of the company’s stock, valued at approximately $24,920,705.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Bradford T. Whitmore sold 213,203 shares of the company’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $6.89, for a total value of $1,468,968.67. Following the completion of the sale, the insider now directly owns 3,529,845 shares of the company’s stock, valued at $24,320,632.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,488 shares of company stock worth $2,227,836. Company insiders own 11.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CLSD. Geode Capital Management LLC lifted its position in Clearside Biomedical by 11.8% during the 1st quarter. Geode Capital Management LLC now owns 364,723 shares of the company’s stock worth $900,000 after acquiring an additional 38,528 shares during the period. Northern Trust Corp lifted its position in Clearside Biomedical by 5.4% during the 1st quarter. Northern Trust Corp now owns 87,806 shares of the company’s stock worth $217,000 after acquiring an additional 4,464 shares during the period. Renaissance Technologies LLC lifted its position in Clearside Biomedical by 22.9% during the 1st quarter. Renaissance Technologies LLC now owns 564,499 shares of the company’s stock worth $1,394,000 after acquiring an additional 105,110 shares during the period. Barclays PLC acquired a new stake in Clearside Biomedical during the 1st quarter worth approximately $42,000. Finally, Stifel Financial Corp lifted its position in Clearside Biomedical by 33.9% during the 1st quarter. Stifel Financial Corp now owns 18,744 shares of the company’s stock worth $46,000 after acquiring an additional 4,750 shares during the period. 33.13% of the stock is owned by hedge funds and other institutional investors.

NASDAQ CLSD traded up $0.28 during trading hours on Thursday, hitting $4.04. 462,536 shares of the company were exchanged, compared to its average volume of 1,276,238. The company has a 50 day moving average of $5.44 and a two-hundred day moving average of $4.99. Clearside Biomedical has a 52-week low of $1.66 and a 52-week high of $7.73. The firm has a market cap of $241.05 million, a price-to-earnings ratio of -8.78 and a beta of 1.73.

About Clearside Biomedical

Clearside Biomedical, Inc is a biopharmaceutical company, which engages in the development of drug therapies to treat blinding diseases of the eye. Its pipeline includes Suprachoroidal CLS-TA, Suprachoroidal, Suprachoroidal CLS-TA, and gene therapy. The company was founded by Samir Kumar Patel, Vladimir Zarnitsyn, Mark Prausnitz, Daniel H.

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Earnings History and Estimates for Clearside Biomedical (NASDAQ:CLSD)

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