Clearside Biomedical (CLSD) Earning Somewhat Favorable News Coverage, Report Finds

Media stories about Clearside Biomedical (NASDAQ:CLSD) have trended somewhat positive this week, according to Accern Sentiment. Accern identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Clearside Biomedical earned a daily sentiment score of 0.03 on Accern’s scale. Accern also gave news articles about the company an impact score of 46.2964474812768 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

These are some of the news articles that may have impacted Accern Sentiment’s scoring:

Several equities research analysts have recently commented on CLSD shares. BidaskClub lowered shares of Clearside Biomedical from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 8th. ValuEngine raised shares of Clearside Biomedical from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Zacks Investment Research lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. JMP Securities set a $25.00 price target on shares of Clearside Biomedical and gave the company a “buy” rating in a research report on Saturday, June 9th. Finally, Wedbush reaffirmed an “outperform” rating and set a $29.00 price target on shares of Clearside Biomedical in a research report on Friday, May 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $22.40.

Shares of NASDAQ:CLSD traded up $0.18 during mid-day trading on Thursday, reaching $6.97. 222,800 shares of the company traded hands, compared to its average volume of 593,191. The company has a market cap of $243.06 million, a PE ratio of -2.99 and a beta of -7.32. The company has a current ratio of 7.94, a quick ratio of 7.94 and a debt-to-equity ratio of 0.15. Clearside Biomedical has a 52 week low of $5.30 and a 52 week high of $15.33.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Wednesday, August 8th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.07). Clearside Biomedical had a negative net margin of 17,094.20% and a negative return on equity of 136.82%. equities research analysts predict that Clearside Biomedical will post -2.45 earnings per share for the current fiscal year.

In related news, Director Clay Thorp sold 161,139 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $13.08, for a total transaction of $2,107,698.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel H. White purchased 11,000 shares of the company’s stock in a transaction on Monday, June 4th. The stock was acquired at an average price of $9.07 per share, with a total value of $99,770.00. Following the completion of the purchase, the insider now directly owns 472,335 shares in the company, valued at $4,284,078.45. The disclosure for this purchase can be found here. Insiders own 15.40% of the company’s stock.

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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