Zacks: Brokerages Expect Clearside Biomedical, Inc. (NASDAQ:CLSD) Will Announce Earnings of -$0.41 Per Share
Analysts forecast that Clearside Biomedical, Inc. (NASDAQ:CLSD) will report earnings per share of ($0.41) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Clearside Biomedical’s earnings, with the lowest EPS estimate coming in at ($0.53) and the highest estimate coming in at ($0.32). Clearside Biomedical posted earnings of ($0.62) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 33.9%. The firm is scheduled to report its next earnings report before the market opens on Wednesday, August 9th.
According to Zacks, analysts expect that Clearside Biomedical will report full year earnings of ($1.72) per share for the current fiscal year, with EPS estimates ranging from ($2.21) to ($1.36). For the next financial year, analysts expect that the business will report earnings of ($1.92) per share, with EPS estimates ranging from ($2.36) to ($1.28). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Clearside Biomedical.
Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Wednesday, May 10th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.44) by $0.03. Clearside Biomedical had a negative return on equity of 53.20% and a negative net margin of 154,030.02%. The firm had revenue of $0.01 million for the quarter.
CLSD has been the topic of a number of research analyst reports. Wedbush reissued an “outperform” rating and set a $27.00 price objective on shares of Clearside Biomedical in a research report on Thursday, April 20th. Zacks Investment Research raised shares of Clearside Biomedical from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Tuesday, July 11th. JMP Securities initiated coverage on shares of Clearside Biomedical in a research report on Thursday, May 25th. They set an “outperform” rating and a $21.00 price objective on the stock. Cowen and Company reissued a “buy” rating and set a $15.00 price objective on shares of Clearside Biomedical in a research report on Thursday, May 11th. Finally, ValuEngine raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Clearside Biomedical currently has an average rating of “Buy” and an average price target of $19.00.
In related news, CEO Daniel H. White sold 3,600 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $7.78, for a total value of $28,008.00. Following the sale, the chief executive officer now owns 504,067 shares in the company, valued at approximately $3,921,641.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel H. White sold 8,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $8.41, for a total transaction of $67,280.00. Following the completion of the sale, the insider now owns 511,267 shares in the company, valued at approximately $4,299,755.47. The disclosure for this sale can be found here. Insiders have sold a total of 125,170 shares of company stock worth $1,080,884 in the last three months. Insiders own 20.90% of the company’s stock.
Several large investors have recently bought and sold shares of the company. State of Wisconsin Investment Board acquired a new stake in Clearside Biomedical during the second quarter worth $137,000. Wells Fargo & Company MN raised 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 raised 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. Rhumbline Advisers acquired a new stake in Clearside Biomedical during the second quarter worth $198,000. Finally, JPMorgan Chase & Co. acquired a new stake in Clearside Biomedical during the first quarter worth $178,000. Institutional investors own 49.69% of the company’s stock.
Clearside Biomedical (CLSD) traded down 0.25% during mid-day trading on Friday, hitting $8.13. The company’s stock had a trading volume of 53,895 shares. The firm’s market cap is $205.69 million. Clearside Biomedical has a 52-week low of $5.44 and a 52-week high of $25.08. The firm has a 50 day moving average of $9.15 and a 200-day moving average of $8.05.
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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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