HC Wainwright Has Bullish Estimate for CLSD FY2024 Earnings

Clearside Biomedical, Inc. (NASDAQ:CLSD) – Stock analysts at HC Wainwright boosted their FY2024 earnings per share (EPS) estimates for shares of Clearside Biomedical in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst Y. Chen now anticipates that the company will post earnings per share of ($0.49) for the year, up from their prior estimate of ($0.53). HC Wainwright has a “Buy” rating and a $6.00 price objective 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.

Other equities analysts have also recently issued research reports about the stock. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Friday. StockNews.com upgraded 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 report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Clearside Biomedical has an average rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Stock Up 3.0 %

Shares of NASDAQ:CLSD opened at $1.02 on Monday. Clearside Biomedical has a twelve month low of $0.92 and a twelve month high of $2.12. The stock’s 50 day moving average is $1.19 and its 200-day moving average is $1.19. The firm has a market capitalization of $77.36 million, a price-to-earnings ratio of -2.22 and a beta of 2.33.

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

Insider Activity

In other news, insider Ngai Hang Victor Chong bought 36,500 shares of the business’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $1.00 per share, with a total value of $36,500.00. Following the completion of the purchase, the insider now directly owns 100,000 shares in the company, valued at $100,000. This represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CLSD. SG Americas Securities LLC bought a new position in shares of Clearside Biomedical during the 1st quarter valued at $49,000. XTX Topco Ltd boosted its position in Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after buying an additional 34,359 shares during the period. Johnson & Johnson bought a new position in shares of Clearside Biomedical during the third quarter valued at about $105,000. Assenagon Asset Management S.A. purchased a new position in shares of Clearside Biomedical in the second quarter worth about $368,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after acquiring an additional 35,900 shares during the last quarter. 18.75% of the stock is owned by hedge funds and other institutional investors.

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.