Clearside Biomedical (CLSD) to Release Earnings on Monday

Clearside Biomedical (NASDAQ:CLSD) will be posting its quarterly earnings results after the market closes on Monday, November 13th. Analysts expect Clearside Biomedical to post earnings of ($0.16) per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Monday, August 14th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Clearside Biomedical had a negative net margin of 2,217.30% and a negative return on equity of 533.87%. The company had revenue of $1.02 million during the quarter, compared to analysts’ expectations of $0.21 million. On average, analysts expect Clearside Biomedical to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Clearside Biomedical Trading Up 16.3 %

Shares of CLSD stock opened at $0.97 on Friday. The business’s 50 day moving average is $0.85 and its two-hundred day moving average is $1.02. Clearside Biomedical has a twelve month low of $0.65 and a twelve month high of $1.85. The company has a market capitalization of $60.06 million, a P/E ratio of -1.64 and a beta of 2.17.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of Clearside Biomedical in a research note on Tuesday, August 15th. StockNews.com assumed coverage on Clearside Biomedical in a research note on Wednesday. They issued a “sell” rating on the stock. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Monday, November 6th. JMP Securities restated a “market outperform” rating and issued a $5.00 price target on shares of Clearside Biomedical in a research note on Tuesday, August 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $4.00 price target on shares of Clearside Biomedical in a research note on Tuesday, August 15th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.00.

Insider Activity at Clearside Biomedical

In other news, major shareholder Bradford T. Whitmore bought 64,366 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were bought at an average cost of $0.74 per share, for a total transaction of $47,630.84. Following the completion of the transaction, the insider now owns 4,050,590 shares in the company, valued at $2,997,436.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired a total of 84,966 shares of company stock worth $65,245 over the last three months. 9.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clearside Biomedical

A number of institutional investors have recently made changes to their positions in CLSD. Balyasny Asset Management LLC acquired a new position in shares of Clearside Biomedical in the third quarter worth $25,000. Mackenzie Financial Corp acquired a new position in Clearside Biomedical in the first quarter valued at $27,000. JPMorgan Chase & Co. increased its stake in Clearside Biomedical by 100.6% in the second quarter. JPMorgan Chase & Co. now owns 18,161 shares of the company’s stock valued at $27,000 after purchasing an additional 9,109 shares during the last quarter. Stifel Financial Corp increased its stake in Clearside Biomedical by 375.6% in the second quarter. Stifel Financial Corp now owns 60,544 shares of the company’s stock valued at $68,000 after purchasing an additional 47,814 shares during the last quarter. Finally, XTX Topco Ltd increased its stake in Clearside Biomedical by 125.6% in the first quarter. XTX Topco Ltd now owns 50,947 shares of the company’s stock valued at $117,000 after purchasing an additional 28,366 shares during the last quarter. 13.70% of the stock is owned by institutional investors and hedge funds.

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. The company offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema.