Clearside Biomedical (NASDAQ:CLSD) Issues Earnings Results, Misses Estimates By $0.10 EPS

Clearside Biomedical (NASDAQ:CLSD – Get Rating) released its quarterly earnings data on Wednesday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10), MarketWatch Earnings reports. Clearside Biomedical had a net margin of 0.28% and a return on equity of 0.33%. During the same quarter in the previous year, the firm posted ($0.13) earnings per share.

Shares of CLSD traded up $0.05 during mid-day trading on Friday, reaching $1.41. The stock had a trading volume of 178,252 shares, compared to its average volume of 300,645. Clearside Biomedical has a 12 month low of $1.30 and a 12 month high of $7.73. The business has a fifty day moving average of $1.99 and a 200 day moving average of $2.59.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in shares of Clearside Biomedical by 101.5% in the first quarter. Renaissance Technologies LLC now owns 864,951 shares of the company’s stock worth $1,981,000 after purchasing an additional 435,734 shares during the period. XTX Topco Ltd boosted its position in shares of Clearside Biomedical by 125.6% in the first quarter. XTX Topco Ltd now owns 50,947 shares of the company’s stock worth $117,000 after purchasing an additional 28,366 shares during the period. Mackenzie Financial Corp bought a new position in shares of Clearside Biomedical in the first quarter worth approximately $27,000. Synovus Financial Corp boosted its position in shares of Clearside Biomedical by 166.6% in the first quarter. Synovus Financial Corp now owns 74,851 shares of the company’s stock worth $171,000 after purchasing an additional 46,780 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Clearside Biomedical by 51.6% in the fourth quarter. BlackRock Inc. now owns 1,219,389 shares of the company’s stock worth $3,353,000 after purchasing an additional 415,037 shares during the period. Institutional investors and hedge funds own 44.71% of the company’s stock.

A number of equities research analysts have recently weighed in on CLSD shares. JMP Securities cut their target price on shares of Clearside Biomedical from $11.00 to $10.00 and set a “market outperform” rating on the stock in a research note on Friday, March 11th. StockNews.com started coverage on shares of Clearside Biomedical in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Wedbush reaffirmed an “outperform” rating and set a $9.00 target price on shares of Clearside Biomedical in a research note on Friday, March 11th. Zacks Investment Research lowered shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Finally, TheStreet lowered shares of Clearside Biomedical from a “c” rating to a “d+” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.25.

About Clearside Biomedical (Get Rating)

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. The company offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema.

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