Clearside Biomedical (NASDAQ:CLSD) Releases Earnings Results, Misses Estimates By $0.47 EPS

Clearside Biomedical (NASDAQ:CLSD) announced its quarterly earnings data on Friday. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.47), Zacks reports.

Clearside Biomedical Price Performance

Shares of CLSD stock traded up $0.13 during trading on Friday, hitting $3.82. 43,879 shares of the stock traded hands, compared to its average volume of 104,350. Clearside Biomedical has a 52-week low of $3.32 and a 52-week high of $17.10. The firm has a market capitalization of $20.01 million, a P/E ratio of -0.69 and a beta of 2.04. The firm’s fifty day moving average price is $4.06 and its 200-day moving average price is $7.93.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CLSD shares. Chardan Capital downgraded shares of Clearside Biomedical from a “buy” rating to a “neutral” rating in a research report on Friday, July 18th. Wall Street Zen raised Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. HC Wainwright cut shares of Clearside Biomedical from a “buy” rating to a “neutral” rating and set a $75.00 price objective on the stock. in a research note on Friday, July 18th. Stifel Nicolaus cut shares of Clearside Biomedical from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Friday, July 18th. Finally, Weiss Ratings began coverage on shares of Clearside Biomedical in a research note on Saturday, November 1st. They set a “sell (e+)” rating on the stock. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Clearside Biomedical currently has an average rating of “Hold” and an average price target of $63.00.

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.