Wedbush Brokers Boost Earnings Estimates for Clearside Biomedical Inc (NASDAQ:CLSD)

Clearside Biomedical Inc (NASDAQ:CLSD) – Research analysts at Wedbush upped their Q3 2019 earnings per share estimates for Clearside Biomedical in a research report issued to clients and investors on Thursday, August 8th. Wedbush analyst L. Moussatos now anticipates that the company will post earnings per share of ($0.15) for the quarter, up from their previous forecast of ($0.29). Wedbush currently has a “Buy” rating and a $4.00 target price on the stock. Wedbush also issued estimates for Clearside Biomedical’s Q4 2019 earnings at ($0.16) EPS, FY2019 earnings at ($0.89) EPS, Q1 2020 earnings at ($0.13) EPS, Q2 2020 earnings at ($0.13) EPS, Q3 2020 earnings at ($0.12) EPS, Q4 2020 earnings at ($0.11) EPS, FY2020 earnings at ($0.48) EPS, FY2021 earnings at ($0.22) EPS, FY2022 earnings at $0.25 EPS and FY2023 earnings at $0.22 EPS.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.22. The business had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.05 million.

A number of other equities analysts have also commented on the stock. Laidlaw lowered shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a research report on Tuesday. JMP Securities lowered their price target on shares of Clearside Biomedical from $12.00 to $4.00 and set an “outperform” rating on the stock in a research report on Monday. ValuEngine raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Clearside Biomedical from a “hold” rating to a “strong-buy” rating and set a $1.50 price target on the stock in a research report on Monday. Finally, Needham & Company LLC lowered shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $3.79.

NASDAQ:CLSD opened at $1.28 on Monday. Clearside Biomedical has a 52 week low of $0.95 and a 52 week high of $7.49. The company has a market capitalization of $49.63 million, a price-to-earnings ratio of -0.48 and a beta of -0.88. The business’s 50-day simple moving average is $1.12. The company has a current ratio of 3.04, a quick ratio of 3.04 and a debt-to-equity ratio of 0.61.

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in Clearside Biomedical by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 303,512 shares of the company’s stock worth $324,000 after buying an additional 14,181 shares in the last quarter. Virtu Financial LLC grew its stake in Clearside Biomedical by 29.5% during the first quarter. Virtu Financial LLC now owns 69,027 shares of the company’s stock worth $95,000 after buying an additional 15,712 shares in the last quarter. SG Americas Securities LLC grew its stake in Clearside Biomedical by 63.4% during the first quarter. SG Americas Securities LLC now owns 57,234 shares of the company’s stock worth $79,000 after buying an additional 22,213 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Clearside Biomedical by 32.8% during the fourth quarter. Bank of New York Mellon Corp now owns 111,970 shares of the company’s stock worth $120,000 after buying an additional 27,652 shares in the last quarter. Finally, Parallel Advisors LLC acquired a new stake in Clearside Biomedical during the first quarter worth about $87,000. Hedge funds and other institutional investors own 15.89% 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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Earnings History and Estimates for Clearside Biomedical (NASDAQ:CLSD)

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