Zacks: Brokerages Anticipate Clearside Biomedical Inc (NASDAQ:CLSD) to Announce -$0.06 EPS

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Analysts forecast that Clearside Biomedical Inc (NASDAQ:CLSD) will post earnings of ($0.06) per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Clearside Biomedical’s earnings, with the highest EPS estimate coming in at $0.00 and the lowest estimate coming in at ($0.16). Clearside Biomedical posted earnings per share of ($0.68) during the same quarter last year, which indicates a positive year-over-year growth rate of 91.2%. The firm is expected to announce its next quarterly 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 year, with EPS estimates ranging from ($0.93) to ($0.71). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.45) per share, with EPS estimates ranging from ($0.59) to ($0.22). Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Clearside Biomedical.

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

A number of research analysts recently commented on the company. JMP Securities set a $3.00 price target on Clearside Biomedical and gave the company a “buy” rating in a report on Thursday, August 22nd. Wedbush reissued a “buy” rating and issued a $3.00 price objective on shares of Clearside Biomedical in a research note on Sunday, November 24th. Zacks Investment Research downgraded Clearside Biomedical from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. ValuEngine cut shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Clearside Biomedical in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $2.33.

Shares of Clearside Biomedical stock opened at $1.72 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.22 and a quick ratio of 2.22. Clearside Biomedical has a 1-year low of $0.56 and a 1-year high of $1.90. The business has a 50-day moving average of $1.12 and a 200-day moving average of $1.01. The company has a market capitalization of $59.26 million, a PE ratio of -0.64 and a beta of -0.27.

A number of institutional investors have recently added to or reduced their stakes in CLSD. A.R.T. Advisors LLC bought a new stake in shares of Clearside Biomedical during the second quarter worth approximately $95,000. Jane Street Group LLC bought a new stake in shares of Clearside Biomedical in the second quarter valued at about $98,000. Paloma Partners Management Co acquired a new position in shares of Clearside Biomedical in the second quarter valued at about $122,000. Millennium Management LLC increased its position in 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 acquiring an additional 205,444 shares during the period. Finally, Vanguard Group Inc. raised its stake in Clearside Biomedical by 66.9% in the 2nd quarter. Vanguard Group Inc. now owns 924,485 shares of the company’s stock worth $899,000 after purchasing an additional 370,690 shares in the last quarter. 16.97% 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 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.

Further Reading: Overbought

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Earnings History and Estimates for Clearside Biomedical (NASDAQ:CLSD)

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