Wedbush Weighs in on Clearside Biomedical, Inc.’s FY2024 Earnings (NASDAQ:CLSD)

Clearside Biomedical, Inc. (NASDAQ:CLSDGet Rating) – Investment analysts at Wedbush issued their FY2024 earnings estimates for Clearside Biomedical in a report released on Tuesday, July 26th. Wedbush analyst A. Argyrides forecasts that the company will post earnings of ($0.44) per share for the year. The consensus estimate for Clearside Biomedical’s current full-year earnings is ($0.51) per share. Wedbush also issued estimates for Clearside Biomedical’s FY2025 earnings at ($0.50) EPS and FY2026 earnings at ($0.48) EPS.

Separately, TheStreet downgraded shares of Clearside Biomedical from a “c” rating to a “d+” rating in a report on Wednesday, May 11th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.67.

Clearside Biomedical Stock Performance

Clearside Biomedical stock opened at $1.54 on Friday. Clearside Biomedical has a 1 year low of $1.26 and a 1 year high of $7.73. The firm has a 50 day moving average price of $1.51 and a 200 day moving average price of $1.75. The company has a market cap of $92.63 million, a price-to-earnings ratio of -154.00 and a beta of 1.97.

Clearside Biomedical (NASDAQ:CLSDGet Rating) last released its earnings results on Wednesday, May 11th. The company reported ($0.13) earnings per share (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 0.31%. The company had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $9.06 million. During the same quarter in the previous year, the firm posted ($0.13) earnings per share.

Hedge Funds Weigh In On Clearside Biomedical

Several institutional investors have recently modified their holdings of the company. ACT Capital Management LLC grew its position in shares of Clearside Biomedical by 0.6% during the fourth quarter. ACT Capital Management LLC now owns 2,483,500 shares of the company’s stock worth $6,830,000 after acquiring an additional 16,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings 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 acquiring an additional 1,615,538 shares during the last quarter. Renaissance Technologies LLC lifted its holdings 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 acquiring an additional 435,734 shares during the last quarter. State Street Corp lifted its stake in Clearside Biomedical by 5.2% during the first quarter. State Street Corp now owns 193,363 shares of the company’s stock valued at $443,000 after buying an additional 9,475 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Clearside Biomedical by 2,760.2% during the first quarter. Bank of America Corp DE now owns 120,500 shares of the company’s stock valued at $276,000 after buying an additional 116,287 shares in the last quarter. Institutional investors own 44.71% of the company’s stock.

Clearside Biomedical Company Profile

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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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Earnings History and Estimates for Clearside Biomedical (NASDAQ:CLSD)

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