Wall Street analysts expect Clearside Biomedical, Inc. (NASDAQ:CLSD – Get Rating) to report $9.06 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Clearside Biomedical’s earnings, with the lowest sales estimate coming in at $500,000.00 and the highest estimate coming in at $25.69 million. Clearside Biomedical posted sales of $30,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 30,100%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Clearside Biomedical will report full-year sales of $17.67 million for the current year, with estimates ranging from $120,000.00 to $55.25 million. For the next fiscal year, analysts anticipate that the business will post sales of $5.33 million, with estimates ranging from $610,000.00 to $7.76 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Clearside Biomedical.
Clearside Biomedical (NASDAQ:CLSD – Get Rating) last posted its earnings results on Thursday, March 10th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.22. The company had revenue of $25.69 million during the quarter, compared to the consensus estimate of $13.16 million. Clearside Biomedical had a net margin of 1.27% and a return on equity of 1.63%. During the same period in the previous year, the firm posted ($0.14) earnings per share.
CLSD has been the subject of several recent analyst reports. JMP Securities decreased their price objective on shares of Clearside Biomedical from $11.00 to $10.00 and set a “market outperform” rating for the company in a report on Friday, March 11th. Zacks Investment Research upgraded shares of Clearside Biomedical from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research note on Wednesday, April 13th. Wedbush reiterated an “outperform” rating and set a $9.00 target price on shares of Clearside Biomedical in a research note on Friday, March 11th. TheStreet upgraded shares of Clearside Biomedical from a “d” rating to a “c” rating in a research note on Friday, April 8th. Finally, StockNews.com began coverage on shares of Clearside Biomedical in a research note on Thursday, March 31st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $9.25.
Hedge funds have recently made changes to their positions in the company. Ameritas Investment Company LLC raised its stake in shares of Clearside Biomedical by 19.7% in the 3rd quarter. Ameritas Investment Company LLC now owns 60,810 shares of the company’s stock valued at $365,000 after buying an additional 10,000 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Clearside Biomedical in the 3rd quarter valued at $229,000. Assenagon Asset Management S.A. grew its holdings in shares of Clearside Biomedical by 8,559.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,634,412 shares of the company’s stock worth $4,495,000 after purchasing an additional 1,615,538 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Clearside Biomedical in the 3rd quarter worth about $263,000. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Clearside Biomedical by 200.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 79,967 shares of the company’s stock worth $480,000 after purchasing an additional 53,311 shares during the last quarter. Institutional investors own 46.56% of the company’s stock.
NASDAQ CLSD opened at $1.53 on Friday. The company has a fifty day simple moving average of $1.98 and a 200 day simple moving average of $2.87. The company has a market cap of $92.03 million, a P/E ratio of -153.00 and a beta of 2.03. Clearside Biomedical has a 1 year low of $1.31 and a 1 year high of $7.73.
About Clearside Biomedical (Get Rating)
Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. The company offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema.
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