Clearside Biomedical (NASDAQ:CLSD) Announces Quarterly 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 analysts’ consensus estimates of ($0.14) by $0.04, Yahoo Finance reports. The business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.25 million. During the same period in the previous year, the business earned ($0.15) earnings per share.

Clearside Biomedical Trading Down 3.3 %

NASDAQ CLSD traded down $0.04 during trading on Tuesday, hitting $1.04. 19,106 shares of the company’s stock were exchanged, compared to its average volume of 259,840. The company has a market cap of $77.35 million, a PE ratio of -1.95 and a beta of 2.43. Clearside Biomedical has a fifty-two week low of $0.65 and a fifty-two week high of $2.12. The stock’s 50 day moving average price is $1.18 and its two-hundred day moving average price is $1.32.

Analyst Upgrades and Downgrades

CLSD has been the subject of several research reports. Oppenheimer began coverage on Clearside Biomedical in a report on Tuesday, June 25th. They set an “outperform” rating and a $5.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Clearside Biomedical in a report on Tuesday. StockNews.com downgraded shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Finally, HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of Clearside Biomedical in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.