Analysts Expect Clearside Biomedical, Inc. (NASDAQ:CLSD) Will Announce Quarterly Sales of $9.06 Million

Equities research analysts predict that Clearside Biomedical, Inc. (NASDAQ:CLSD – Get Rating) will report $9.06 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Clearside Biomedical’s earnings. The highest sales estimate is $25.69 million and the lowest is $500,000.00. Clearside Biomedical posted sales of $780,000.00 during the same quarter last year, which suggests a positive year-over-year growth rate of 1,061.5%. The firm is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Clearside Biomedical will report full year sales of $15.23 million for the current fiscal year, with estimates ranging from $120,000.00 to $55.25 million. For the next year, analysts forecast that the business will report sales of $6.50 million, with estimates ranging from $610,000.00 to $10.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Clearside Biomedical.

Clearside Biomedical (NASDAQ:CLSD – Get Rating) last announced its quarterly earnings data on Wednesday, May 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). Clearside Biomedical had a net margin of 0.28% and a return on equity of 0.31%. During the same period in the prior year, the firm earned ($0.13) EPS.

A number of research firms have recently weighed in on CLSD. TheStreet lowered shares of Clearside Biomedical from a “c” rating to a “d+” rating in a report on Wednesday, May 11th. StockNews.com began coverage on shares of Clearside Biomedical in a report on Thursday, March 31st. They issued a “hold” rating for the company. Wedbush restated an “outperform” rating and issued a $9.00 price objective on shares of Clearside Biomedical in a report on Friday, March 11th. Zacks Investment Research lowered shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Finally, JMP Securities lowered 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Clearside Biomedical has an average rating of “Buy” and a consensus target price of $9.25.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Investment Company LLC increased its position in shares of Clearside Biomedical by 19.7% during the third quarter. Ameritas Investment Company LLC now owns 60,810 shares of the company’s stock valued at $365,000 after acquiring an additional 10,000 shares in the last quarter. Jump Financial LLC bought a new stake in Clearside Biomedical in the 3rd quarter worth approximately $229,000. Assenagon Asset Management S.A. grew its position in 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 period. Trexquant Investment LP bought a new stake in Clearside Biomedical in the 3rd quarter worth approximately $263,000. Finally, Cubist Systematic Strategies LLC grew its position in 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 period. 44.71% of the stock is owned by institutional investors.

Shares of NASDAQ:CLSD remained flat at $$1.34 on Friday. The stock had a trading volume of 212,027 shares, compared to its average volume of 753,418. The business has a 50 day simple moving average of $1.85 and a 200-day simple moving average of $2.30. The stock has a market capitalization of $80.60 million, a PE ratio of -134.00 and a beta of 2.15. Clearside Biomedical has a 52-week low of $1.27 and a 52-week high of $7.73.

Clearside Biomedical Company Profile (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.

See Also