HC Wainwright Has Positive Estimate for CLSD FY2024 Earnings

Clearside Biomedical, Inc. (NASDAQ:CLSD) – Equities research analysts at HC Wainwright raised their FY2024 earnings per share estimates for shares of Clearside Biomedical in a research report issued on Wednesday, November 13th. HC Wainwright analyst Y. Chen now anticipates that the company will earn ($0.49) per share for the year, up from their previous estimate of ($0.53). HC Wainwright currently has a “Buy” rating and a $6.00 target price on the stock. The consensus estimate for Clearside Biomedical’s current full-year earnings is ($0.51) per share. HC Wainwright also issued estimates for Clearside Biomedical’s Q4 2024 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.14) EPS and FY2025 earnings at ($0.53) EPS.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. The company had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share.

A number of other research firms have also recently commented on CLSD. Chardan Capital reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Friday, November 15th. StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Clearside Biomedical currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.33.

Clearside Biomedical Price Performance

NASDAQ CLSD opened at $1.03 on Monday. Clearside Biomedical has a 12 month low of $0.92 and a 12 month high of $2.12. The company has a market capitalization of $78.12 million, a price-to-earnings ratio of -2.33 and a beta of 2.33. The firm’s fifty day moving average price is $1.19 and its 200 day moving average price is $1.18.

Hedge Funds Weigh In On Clearside Biomedical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after buying an additional 314,480 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical in the second quarter valued at $368,000. Johnson & Johnson purchased a new stake in shares of Clearside Biomedical during the 3rd quarter worth $105,000. Geode Capital Management LLC grew its stake in shares of Clearside Biomedical by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after purchasing an additional 59,089 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after purchasing an additional 35,900 shares during the period. Institutional investors and hedge funds own 18.75% of the company’s stock.

Insider Activity at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong purchased 36,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $1.00 per share, with a total value of $36,500.00. Following the completion of the acquisition, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $100,000. This trade represents a 57.48 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 9.20% of the stock is currently owned by insiders.

Clearside Biomedical Company Profile

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.