Clearside Biomedical (NASDAQ:CLSD) Issues Quarterly Earnings Results

Clearside Biomedical (NASDAQ:CLSD) released its earnings results on Monday. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04, Yahoo Finance reports. The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.25 million. During the same period in the prior year, the company earned ($0.15) earnings per share.

Clearside Biomedical Trading Up 6.1 %

Shares of Clearside Biomedical stock opened at $1.13 on Wednesday. Clearside Biomedical has a 12-month low of $0.65 and a 12-month high of $2.12. The company has a market cap of $84.45 million, a price-to-earnings ratio of -1.94 and a beta of 2.43. The company’s 50-day moving average price is $1.18 and its 200-day moving average price is $1.32.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CLSD shares. Needham & Company LLC reissued a “buy” rating and set a $4.00 price objective on shares of Clearside Biomedical in a report on Tuesday. Oppenheimer initiated coverage on Clearside Biomedical in a research note on Tuesday, June 25th. They set an “outperform” rating and a $5.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Clearside Biomedical in a research note on Tuesday. Finally, StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, Clearside Biomedical has an average rating of “Moderate Buy” and a consensus price target of $4.60.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.