Clearside Biomedical, Inc. (NASDAQ:CLSD) to Post Q2 2022 Earnings of ($0.13) Per Share, Wedbush Forecasts

Clearside Biomedical, Inc. (NASDAQ:CLSD – Get Rating) – Wedbush dropped their Q2 2022 earnings estimates for Clearside Biomedical in a report released on Thursday, May 12th. Wedbush analyst A. Argyrides now expects that the company will earn ($0.13) per share for the quarter, down from their previous estimate of ($0.11). Wedbush currently has a “Outperform” rating and a $9.00 target price on the stock. Wedbush also issued estimates for Clearside Biomedical’s Q3 2022 earnings at ($0.13) EPS, FY2022 earnings at ($0.51) EPS, Q2 2023 earnings at ($0.13) EPS, Q3 2023 earnings at ($0.13) EPS, Q4 2023 earnings at ($0.13) EPS and FY2023 earnings at ($0.51) EPS.

Clearside Biomedical (NASDAQ:CLSD – Get Rating) last posted its quarterly earnings results on Wednesday, May 11th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). Clearside Biomedical had a net margin of 0.28% and a return on equity of 0.33%. During the same quarter in the previous year, the firm posted ($0.13) EPS.

Other equities analysts have also recently issued reports about the stock. TheStreet cut shares of Clearside Biomedical from a “c” rating to a “d+” rating in a research note on Wednesday, May 11th. JMP Securities dropped their price target on shares of Clearside Biomedical from $11.00 to $10.00 and set a “market outperform” rating for the company in a research note on Friday, March 11th. StockNews.com initiated coverage on shares of Clearside Biomedical in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research cut shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Clearside Biomedical currently has an average rating of “Buy” and an average price target of $9.25.

CLSD opened at $1.41 on Monday. The company has a market capitalization of $84.81 million, a PE ratio of -141.00 and a beta of 2.15. Clearside Biomedical has a 1-year low of $1.30 and a 1-year high of $7.73. The firm’s 50 day simple moving average is $1.99 and its two-hundred day simple moving average is $2.55.

A number of institutional investors have recently added to or reduced their stakes in CLSD. Assenagon Asset Management S.A. boosted its position in Clearside Biomedical by 8,559.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,634,412 shares of the company’s stock valued at $4,495,000 after buying an additional 1,615,538 shares during the period. Morgan Stanley boosted its position in Clearside Biomedical by 182.1% in the 3rd quarter. Morgan Stanley now owns 806,555 shares of the company’s stock valued at $4,839,000 after buying an additional 520,694 shares during the period. Renaissance Technologies LLC boosted its position in Clearside Biomedical by 101.5% in the 1st quarter. Renaissance Technologies LLC now owns 864,951 shares of the company’s stock valued at $1,981,000 after buying an additional 435,734 shares during the period. BlackRock Inc. boosted its position in Clearside Biomedical by 51.6% in the 4th quarter. BlackRock Inc. now owns 1,219,389 shares of the company’s stock valued at $3,353,000 after buying an additional 415,037 shares during the period. Finally, Invesco Ltd. bought a new stake in shares of Clearside Biomedical in the 3rd quarter valued at about $1,663,000. 44.71% of the stock is owned by institutional investors.

About Clearside Biomedical (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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