Clearside Biomedical (NASDAQ:CLSD) Releases Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Clearside Biomedical (NASDAQ:CLSD – Get Rating) released its quarterly earnings data on Wednesday. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10), MarketWatch Earnings reports. Clearside Biomedical had a net margin of 0.28% and a return on equity of 0.33%. During the same period last year, the company posted ($0.13) EPS.

Shares of CLSD stock traded up $0.05 during mid-day trading on Friday, hitting $1.41. The company’s stock had a trading volume of 178,252 shares, compared to its average volume of 300,645. The company’s fifty day simple moving average is $1.99 and its 200-day simple moving average is $2.59. Clearside Biomedical has a 52 week low of $1.30 and a 52 week high of $7.73.

Several research analysts recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $9.00 target price on shares of Clearside Biomedical in a research report on Friday, March 11th. StockNews.com assumed coverage on Clearside Biomedical in a research report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet lowered Clearside Biomedical from a “c” rating to a “d+” rating in a research report on Wednesday. JMP Securities lowered their target price on Clearside Biomedical from $11.00 to $10.00 and set a “market outperform” rating for the company in a research report on Friday, March 11th. Finally, Zacks Investment Research lowered Clearside Biomedical from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $9.25.

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in shares of Clearside Biomedical by 322.9% in the 4th quarter. Renaissance Technologies LLC now owns 429,217 shares of the company’s stock worth $1,180,000 after acquiring an additional 327,728 shares in the last quarter. Millennium Management LLC increased its position in Clearside Biomedical by 39.6% in the 4th quarter. Millennium Management LLC now owns 370,498 shares of the company’s stock valued at $1,019,000 after buying an additional 105,026 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Clearside Biomedical by 69.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 79,462 shares of the company’s stock valued at $219,000 after buying an additional 32,646 shares in the last quarter. Bank of New York Mellon Corp increased its position in Clearside Biomedical by 61.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 30,795 shares of the company’s stock valued at $185,000 after buying an additional 11,692 shares in the last quarter. Finally, Synovus Financial Corp increased its position in Clearside Biomedical by 166.6% in the 1st quarter. Synovus Financial Corp now owns 74,851 shares of the company’s stock valued at $171,000 after buying an additional 46,780 shares in the last quarter. 44.71% of the stock is owned by hedge funds and other institutional investors.

Clearside Biomedical Company Profile (Get Rating)

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. The company offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema.

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