FY2017 Earnings Forecast for Clearside Biomedical Inc (CLSD) Issued By Wedbush
Clearside Biomedical Inc (NASDAQ:CLSD) – Investment analysts at Wedbush decreased their FY2017 EPS estimates for Clearside Biomedical in a report issued on Wednesday. Wedbush analyst L. Moussatos now expects that the company will earn ($2.24) per share for the year, down from their prior forecast of ($2.06). Wedbush also issued estimates for Clearside Biomedical’s Q4 2017 earnings at ($0.57) EPS, Q1 2018 earnings at ($0.56) EPS, Q2 2018 earnings at ($0.56) EPS, Q3 2018 earnings at ($0.57) EPS, Q4 2018 earnings at ($0.67) EPS, FY2018 earnings at ($2.37) EPS, FY2019 earnings at ($3.01) EPS, FY2020 earnings at ($3.05) EPS and FY2021 earnings at ($1.50) EPS.
CLSD has been the subject of several other research reports. Zacks Investment Research downgraded shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Cowen reissued a “buy” rating on shares of Clearside Biomedical in a research report on Wednesday, October 25th. Finally, TheStreet downgraded shares of Clearside Biomedical from a “c-” rating to a “d” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $18.33.
Shares of Clearside Biomedical (CLSD) opened at $5.89 on Friday. Clearside Biomedical has a 52-week low of $5.44 and a 52-week high of $10.46. The company has a quick ratio of 4.57, a current ratio of 4.57 and a debt-to-equity ratio of 0.15.
Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Wednesday, November 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.17). Clearside Biomedical had a negative net margin of 17,684.07% and a negative return on equity of 90.72%. The business had revenue of $0.16 million during the quarter, compared to analyst estimates of $0.01 million.
In other Clearside Biomedical news, Director Clay Thorp sold 5,000 shares of Clearside Biomedical stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $6.13, for a total transaction of $30,650.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel H. White sold 8,000 shares of Clearside Biomedical stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $7.82, for a total transaction of $62,560.00. Following the transaction, the insider now directly owns 477,935 shares in the company, valued at $3,737,451.70. The disclosure for this sale can be found here. Insiders have sold a total of 152,000 shares of company stock worth $1,132,035 over the last ninety days. Insiders own 20.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in shares of Clearside Biomedical during the 3rd quarter worth $561,000. Wedbush Securities Inc. bought a new stake in shares of Clearside Biomedical during the 3rd quarter worth $256,000. AWM Investment Company Inc. raised its stake in shares of Clearside Biomedical by 17.6% during the 2nd quarter. AWM Investment Company Inc. now owns 401,433 shares of the company’s stock worth $3,657,000 after purchasing an additional 60,216 shares during the period. California State Teachers Retirement System raised its stake in shares of Clearside Biomedical by 84.8% during the 2nd quarter. California State Teachers Retirement System now owns 36,600 shares of the company’s stock worth $333,000 after purchasing an additional 16,800 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Clearside Biomedical by 21,620.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,811 shares of the company’s stock worth $162,000 after purchasing an additional 17,729 shares during the period. Institutional investors own 51.73% of the company’s stock.
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Clearside Biomedical Company Profile
Clearside Biomedical, Inc is a clinical biopharmaceutical company developing first-in-class drug therapies to treat blinding diseases of the eye. The Company’s product candidates focus on diseases affecting the retina, which is the tissue that lines the inside of the eye and is primarily responsible for vision, and the choroid, which is the layer adjacent to the retina that supplies the retina with blood, oxygen and nourishment.
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