Clearside Biomedical Inc (NASDAQ:CLSD) Reports Earnings and Beats Expectations of $0.10 per EPS
Clearside Biomedical (NASDAQ:CLSD – Get Rating) released its results on Wednesday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.03) by ($0.10), MarketWatch Earnings reports. Clearside Biomedical had a return on equity of 0.33% and a net margin of 0.28%. During the same period of the previous year, the company achieved EPS of ($0.13).
Clearside Biomedical stock traded down $0.05 at midday on Friday, hitting $1.41. 178,252 shares of the company were traded, compared to its average volume of 300,645. The company has a 50-day simple moving average of $1.99 and a two-hundred-day simple moving average of $2.59 . Clearside Biomedical has a fifty-two-week low of $1.30 and a fifty-two-week high of $7.73.
A number of institutional investors have recently changed their positions in CLSD. Goldman Sachs Group Inc. acquired a new stake in Clearside Biomedical during Q2 for $82,000. Morgan Stanley increased its stake in Clearside Biomedical by 182.1% in the third quarter. Morgan Stanley now owns 806,555 shares of the company valued at $4,839,000 after buying an additional 520,694 shares in the last quarter. Millennium Management LLC increased its stake in Clearside Biomedical by 51.7% during the third quarter. Millennium Management LLC now owns 265,472 shares of the company valued at $1,593,000 after purchasing an additional 90,437 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Clearside Biomedical by 61.2% in the third quarter. Bank of New York Mellon Corp now owns 30,795 shares of the company valued at $185,000 after buying 11,692 additional shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Clearside Biomedical by 1,462,200.0% during the 4th quarter. BNP Paribas Arbitrage SA now owns 14,623 shares in the company worth $40,000 after purchasing an additional 14,622 shares during the period. 44.71% of the shares are held by institutional investors and hedge funds.
The CLSD has been the subject of several research reports. Wedbush reissued an “outperform” rating and set a target price of $9.00 on Clearside Biomedical shares in a research note on Friday, March 11. JMP Securities cut its price target on Clearside Biomedical from $11.00 to $10.00 and set a “market outperformance” rating for the company in a Friday, March 11 research report. StockNews.com launched coverage on Clearside Biomedical in a research report on Thursday, March 31. They set a “holding” rating for the company. Zacks Investment Research downgraded Clearside Biomedical from a “buy” rating to a “hold” rating in a Monday, May 2, research report. Finally, TheStreet downgraded Clearside Biomedical from a “c” rating to a “d+” rating in a research report on Wednesday. Two research analysts rated the stock with a hold rating and four gave the company’s stock a buy rating. According to MarketBeat, Clearside Biomedical currently has an average rating of “Buy” and a consensus price target of $9.25.
Clearside Biomedical Company Profile (Get a rating)
Clearside Biomedical, Inc, a biopharmaceutical company, is focused on revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. The company offers XIPERE, a suprachoroidal injectable suspension of triamcinolone acetonide for the treatment of macular edema in uveitis.
Get news and reviews for Clearside Biomedical Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Clearside Biomedical and related companies with MarketBeat.com’s FREE daily newsletter.