Zacks: Analysts Anticipate Clearside Biomedical Inc (NASDAQ:CLSD) to Post -$0.06 EPS

Equities analysts forecast that Clearside Biomedical Inc (NASDAQ:CLSD) will report earnings per share (EPS) of ($0.06) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Clearside Biomedical’s earnings. The highest EPS estimate is $0.00 and the lowest is ($0.16). Clearside Biomedical posted earnings of ($0.68) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 91.2%. The firm is scheduled to announce its next earnings report on Tuesday, March 10th.

According to Zacks, analysts expect that Clearside Biomedical will report full-year earnings of ($0.84) per share for the current fiscal year, with EPS estimates ranging from ($0.93) to ($0.71). For the next year, analysts anticipate that the firm will post earnings of ($0.45) per share, with EPS estimates ranging from ($0.59) to ($0.22). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that that provide coverage for Clearside Biomedical.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The company had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.05 million. Clearside Biomedical had a negative net margin of 18,893.49% and a negative return on equity of 316.25%.

Several equities analysts recently issued reports on CLSD shares. JMP Securities set a $3.00 price target on Clearside Biomedical and gave the company a “buy” rating in a research note on Thursday, August 22nd. ValuEngine lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Tuesday. Laidlaw downgraded Clearside Biomedical from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Needham & Company LLC restated a “hold” rating on shares of Clearside Biomedical in a research note on Thursday, October 31st. Finally, Zacks Investment Research cut shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Clearside Biomedical has a consensus rating of “Hold” and an average target price of $2.33.

NASDAQ:CLSD opened at $1.72 on Friday. The firm’s 50-day moving average is $1.12 and its 200-day moving average is $1.01. The company has a market cap of $59.26 million, a price-to-earnings ratio of -0.64 and a beta of -0.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.22 and a current ratio of 2.22. Clearside Biomedical has a 52-week low of $0.56 and a 52-week high of $1.90.

A number of institutional investors have recently modified their holdings of CLSD. Jane Street Group LLC acquired a new position in shares of Clearside Biomedical in the second quarter valued at about $98,000. Vanguard Group Inc. lifted its stake in Clearside Biomedical by 66.9% during the 2nd quarter. Vanguard Group Inc. now owns 924,485 shares of the company’s stock valued at $899,000 after acquiring an additional 370,690 shares during the period. A.R.T. Advisors LLC acquired a new stake in shares of Clearside Biomedical in the second quarter worth $95,000. Paloma Partners Management Co purchased a new position in shares of Clearside Biomedical during the second quarter worth $122,000. Finally, Millennium Management LLC raised its holdings in shares of Clearside Biomedical by 273.6% during the third quarter. Millennium Management LLC now owns 280,533 shares of the company’s stock worth $176,000 after purchasing an additional 205,444 shares during the last quarter. Institutional investors and hedge funds own 16.97% of the company’s stock.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to restore and preserve vision for people with serious eye diseases. It develops XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of macular edema associated with uveitis, diabetic macular edema, and macular edema associated with retinal vein occlusion.

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