Clearside Biomedical (NASDAQ:CLSD) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) announced its earnings results on Thursday. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.03), Zacks reports. The firm had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.98 million. During the same period in the previous year, the business posted ($0.15) EPS.

Clearside Biomedical Stock Down 7.4 %

NASDAQ CLSD traded down $0.10 on Friday, reaching $1.25. The company had a trading volume of 286,228 shares, compared to its average volume of 315,151. The stock's 50 day moving average is $1.44 and its 200-day moving average is $1.25. The stock has a market cap of $93.40 million, a price-to-earnings ratio of -2.36 and a beta of 2.35. Clearside Biomedical has a 52 week low of $0.65 and a 52 week high of $2.12.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CLSD shares. Wedbush restated an "outperform" rating and issued a $4.00 price objective (down previously from $5.00) on shares of Clearside Biomedical in a research report on Wednesday, March 13th. JMP Securities reaffirmed a "market outperform" rating and set a $5.00 price objective on shares of Clearside Biomedical in a report on Wednesday, March 13th. HC Wainwright reissued a "buy" rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, March 14th. StockNews.com raised shares of Clearside Biomedical from a "sell" rating to a "hold" rating in a research note on Saturday, February 10th. Finally, Needham & Company LLC reissued a "buy" rating and set a $4.00 price target on shares of Clearside Biomedical in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $4.75.

Insider Activity at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong purchased 30,000 shares of Clearside Biomedical stock in a transaction dated Wednesday, March 20th. The stock was bought at an average price of $1.60 per share, for a total transaction of $48,000.00. Following the completion of the acquisition, the insider now directly owns 30,000 shares of the company's stock, valued at $48,000. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 9.80% of the stock is currently owned by corporate insiders.

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.

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