HC Wainwright Has Bullish Outlook for CLSD FY2024 Earnings

Clearside Biomedical, Inc. (NASDAQ:CLSD) – HC Wainwright upped their FY2024 earnings per share (EPS) 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 post earnings per share of ($0.49) for the year, up from their previous forecast of ($0.53). HC Wainwright has a “Buy” rating and a $6.00 price target 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 analysts have also issued reports about the stock. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday. Chardan Capital reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Friday, November 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Clearside Biomedical currently has an average rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Trading Up 1.0 %

Shares of NASDAQ CLSD opened at $1.03 on Monday. The stock has a market cap of $78.12 million, a price-to-earnings ratio of -2.33 and a beta of 2.33. The company’s 50-day moving average price is $1.19 and its 200 day moving average price is $1.18. Clearside Biomedical has a 52 week low of $0.92 and a 52 week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The firm 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 business earned ($0.15) EPS.

Insider Activity

In other Clearside Biomedical news, insider Ngai Hang Victor Chong acquired 36,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $1.00 per share, for a total transaction 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 $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On Clearside Biomedical

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Clearside Biomedical by 14.5% in the 1st 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 during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical in the second quarter worth approximately $368,000. Johnson & Johnson purchased a new stake in shares of Clearside Biomedical during the 3rd quarter valued at $105,000. Geode Capital Management LLC increased its holdings 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 buying an additional 59,089 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position 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 worth $757,000 after buying an additional 35,900 shares during the period. 18.75% of the stock is currently 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.