Clearside Biomedical (NASDAQ:CLSD) Issues Earnings Results

Clearside Biomedical (NASDAQ:CLSD) announced its quarterly earnings data on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04, Zacks reports. The company had revenue of $1.04 million during the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share.

Clearside Biomedical Trading Down 2.8 %

CLSD stock opened at $1.05 on Friday. The company has a fifty day moving average price of $1.19 and a 200 day moving average price of $1.19. Clearside Biomedical has a 12 month low of $0.90 and a 12 month high of $2.12.

Insider Buying and Selling at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong acquired 36,500 shares of the stock in a transaction on Friday, November 1st. The shares were bought at an average price of $1.00 per share, with a total value of $36,500.00. Following the acquisition, the insider now owns 100,000 shares of the company’s stock, valued at $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CLSD shares. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Wednesday. Chardan Capital restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Monday, October 14th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday. Finally, StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.33.

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.