Clearside Biomedical (CLSD) Posts Earnings Results, Misses Estimates By $0.12 EPS

Clearside Biomedical (NASDAQ:CLSD) posted its quarterly earnings data on Thursday. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12), Fidelity Earnings reports.

NASDAQ:CLSD traded down $0.14 during trading hours on Friday, hitting $1.84. 707,532 shares of the stock traded hands, compared to its average volume of 703,408. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.94 and a quick ratio of 7.94. Clearside Biomedical has a 1 year low of $1.83 and a 1 year high of $15.33. The company has a market capitalization of $70.13 million, a P/E ratio of -0.79 and a beta of -3.98.

Large investors have recently modified their holdings of the business. Voya Investment Management LLC purchased a new position in Clearside Biomedical during the second quarter valued at approximately $123,000. Point72 Asset Management L.P. purchased a new position in Clearside Biomedical during the second quarter valued at approximately $2,138,000. BlackRock Inc. lifted its holdings in Clearside Biomedical by 53.1% during the second quarter. BlackRock Inc. now owns 1,859,948 shares of the company’s stock valued at $19,883,000 after purchasing an additional 645,292 shares in the last quarter. Alps Advisors Inc. purchased a new position in Clearside Biomedical during the second quarter valued at approximately $496,000. Finally, GSA Capital Partners LLP purchased a new position in Clearside Biomedical during the second quarter valued at approximately $534,000. 62.23% of the stock is currently owned by institutional investors and hedge funds.

CLSD has been the topic of a number of research reports. Laidlaw initiated coverage on shares of Clearside Biomedical in a report on Monday, July 16th. They issued a “buy” rating and a $18.00 price objective on the stock. BidaskClub downgraded shares of 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 shares of Clearside Biomedical and gave the stock a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Monday, August 13th. Finally, JPMorgan Chase & Co. downgraded shares of Clearside Biomedical from an “overweight” rating to an “underweight” rating in a report on Monday, November 5th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.71.

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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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Earnings History for Clearside Biomedical (NASDAQ:CLSD)

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