Clearside Biomedical (NASDAQ:CLSD) Posts Earnings Results, Beats Expectations By $0.04 EPS

Clearside Biomedical (NASDAQ:CLSD) announced its earnings results on Tuesday. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.04, Zacks reports. The firm had revenue of $1.04 million for the quarter, compared to the consensus estimate of $0.25 million. During the same period in the prior year, the business earned ($0.15) EPS.

Clearside Biomedical Stock Down 3.2 %

Shares of CLSD traded down $0.04 during trading hours on Thursday, reaching $1.05. The stock had a trading volume of 90,102 shares, compared to its average volume of 400,552. Clearside Biomedical has a 52 week low of $0.90 and a 52 week high of $2.12. The firm has a 50-day moving average of $1.19 and a 200 day moving average of $1.19. The company has a market cap of $78.09 million, a P/E ratio of -2.36 and a beta of 2.33.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong bought 36,500 shares of Clearside Biomedical stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price 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 of the company’s stock, valued at $100,000. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.20% of the company’s stock.

About Clearside Biomedical

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.