Clearside Biomedical (NASDAQ:CLSD) Announces Earnings Results

Clearside Biomedical (NASDAQ:CLSD) released its quarterly earnings data on Monday. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04, Yahoo Finance reports. The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.25 million. During the same quarter in the prior year, the company earned ($0.15) EPS.

Clearside Biomedical Stock Down 1.9 %

Shares of NASDAQ CLSD traded down $0.02 during midday trading on Tuesday, reaching $1.05. 14,676 shares of the company were exchanged, compared to its average volume of 259,839. Clearside Biomedical has a one year low of $0.65 and a one year high of $2.12. The stock has a market cap of $78.47 million, a P/E ratio of -1.95 and a beta of 2.43. The stock’s 50-day moving average price is $1.18 and its 200-day moving average price is $1.32.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CLSD shares. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Clearside Biomedical in a research note on Tuesday, July 30th. StockNews.com cut shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 target price on shares of Clearside Biomedical in a research report on Tuesday. Finally, Oppenheimer initiated coverage on Clearside Biomedical in a report on Tuesday, June 25th. They issued an “outperform” rating and a $5.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.60.

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.