Clearside Biomedical (NASDAQ:CLSD) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Clearside Biomedical (NASDAQ:CLSD) announced its quarterly earnings results on Thursday. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03, Zacks reports. The company had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.27 million.

Clearside Biomedical Stock Performance

Shares of CLSD stock opened at $1.03 on Friday. The firm has a market cap of $78.12 million, a price-to-earnings ratio of -2.29 and a beta of 2.10. Clearside Biomedical has a 52 week low of $0.77 and a 52 week high of $1.73. The firm’s 50-day simple moving average is $0.96 and its two-hundred day simple moving average is $1.05.

Analyst Upgrades and Downgrades

CLSD has been the subject of several recent analyst reports. Chardan Capital reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Friday. Needham & Company LLC decreased their price objective on shares of Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Friday. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, March 6th. Finally, StockNews.com lowered Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.25.

About Clearside Biomedical

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.