Todays Report: The Brokerages Expect Clearside Biomedical Inc. (CLSD) to Post ($0.45) EPS

The Brokerages Expect Clearside Biomedical Inc. (CLSD) to Post ($0.45) EPS

Clearside Biomedical Inc. (NASDAQ:CLSD) has been given an average broker rating score of 1.25 (Strong Buy) from the four analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company.

Brokers have set a one year consensus price objective of $19.00 for the company and are predicting that the company will post ($0.45) earnings per share for the current quarter, according to Zacks. Zacks has also given Clearside Biomedical an industry rank of 111 out of 265 based on the ratings given to related companies.

A number of analysts have issued reports on CLSD shares. Zacks Investment Research upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Monday, September 19th. Wedbush reiterated a “buy” rating and issued a $28.00 price target on shares of Clearside Biomedical in a report on Thursday, August 25th. Stifel Nicolaus assumed coverage on shares of Clearside Biomedical in a report on Monday, June 27th. They issued a “buy” rating and a $13.00 target price on the stock. Needham & Company LLC assumed coverage on shares of Clearside Biomedical in a report on Tuesday, June 28th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, Cowen and Company assumed coverage on shares of Clearside Biomedical in a report on Monday, June 27th. They issued an “outperform” rating on the stock.

Shares of Clearside Biomedical (NASDAQ:CLSD) traded up 3.56% during mid-day trading on Friday, reaching $19.79. 24,899 shares of the company’s stock traded hands. Clearside Biomedical has a 12-month low of $5.65 and a 12-month high of $25.08. The stock has a 50-day moving average price of $13.01 and a 200 day moving average price of $9.11. The firm’s market capitalization is $406.59 million.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by $0.30. Analysts anticipate that Clearside Biomedical will post ($2.10) EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. AWM Investment Company Inc. purchased a new position in shares of Clearside Biomedical during the second quarter valued at approximately $350,000. Iguana Healthcare Management LLC purchased a new position in shares of Clearside Biomedical during the second quarter valued at approximately $526,000. Marshall Wace LLP purchased a new position in shares of Clearside Biomedical during the second quarter valued at approximately $1,122,000. Finally, Perceptive Advisors LLC purchased a new position in shares of Clearside Biomedical during the second quarter valued at approximately $4,450,000. Hedge funds and other institutional investors own 36.61% of the company’s stock.

About Clearside Biomedical

Clearside Biomedical, Inc is a late-stage clinical biopharmaceutical company. The Company is developing drug therapies to treat blinding diseases of the eye. The Company’s product candidates are focused on diseases affecting the retina and choroid, especially diseases associated with macular edema, and are injected into the suprachoroidal space (SCS) adjacent to the choroid, using its SCS Microinjector.

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