Zacks: Analysts Anticipate Clearside Biomedical Inc (CLSD) Will Post Earnings of -$0.63 Per Share

Wall Street brokerages predict that Clearside Biomedical Inc (NASDAQ:CLSD) will announce ($0.63) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Clearside Biomedical’s earnings. The highest EPS estimate is ($0.48) and the lowest is ($0.72). Clearside Biomedical reported earnings of ($0.72) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.5%. The firm is expected to announce its next quarterly earnings report on Thursday, November 8th.

According to Zacks, analysts expect that Clearside Biomedical will report full year earnings of ($2.49) per share for the current financial year, with EPS estimates ranging from ($2.73) to ($2.04). For the next year, analysts anticipate that the firm will post earnings of ($1.24) per share, with EPS estimates ranging from ($1.35) to ($1.15). Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Clearside Biomedical.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Thursday, November 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.12).

Several brokerages have issued reports on CLSD. Laidlaw began coverage on Clearside Biomedical in a report on Monday, July 16th. They set a “buy” rating and a $18.00 price objective on the stock. BidaskClub lowered Clearside Biomedical from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Wedbush set a $29.00 price objective on Clearside Biomedical and gave the stock a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research raised Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Monday, August 13th. Finally, JPMorgan Chase & Co. lowered Clearside Biomedical from an “overweight” rating to an “underweight” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $12.71.

Shares of CLSD stock opened at $1.98 on Tuesday. The stock has a market cap of $71.09 million, a price-to-earnings ratio of -0.85 and a beta of -3.98. Clearside Biomedical has a 1 year low of $1.90 and a 1 year high of $15.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.94 and a current ratio of 7.94.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC purchased a new position in shares of Clearside Biomedical during the second quarter worth about $123,000. BlackRock Inc. grew its holdings in shares of Clearside Biomedical by 53.1% during the second quarter. BlackRock Inc. now owns 1,859,948 shares of the company’s stock worth $19,883,000 after buying an additional 645,292 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Clearside Biomedical during the second quarter worth about $2,138,000. Alps Advisors Inc. purchased a new position in shares of Clearside Biomedical during the second quarter worth about $496,000. Finally, GSA Capital Partners LLP acquired a new stake in Clearside Biomedical in the second quarter valued at about $534,000. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

About Clearside Biomedical

Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.

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