Clearside Biomedical (NASDAQ:CLSD – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03, Zacks reports. The business had revenue of $0.31 million for the quarter, compared to analysts’ expectations of $0.27 million.
Clearside Biomedical Stock Down 7.8 %
NASDAQ CLSD opened at $0.95 on Friday. The stock has a market capitalization of $72.05 million, a PE ratio of -2.11 and a beta of 2.10. Clearside Biomedical has a 12-month low of $0.77 and a 12-month high of $1.65. The company has a 50 day moving average price of $0.96 and a two-hundred day moving average price of $1.05.
Analyst Ratings Changes
Several research firms have weighed in on CLSD. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, March 6th. Needham & Company LLC lowered their price objective on shares of Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday. Chardan Capital reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Friday. Finally, StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.25.
Clearside Biomedical Company Profile
Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.
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