Equities research analysts expect Clearside Biomedical, Inc. (NASDAQ:CLSD) to post sales of $13.73 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Clearside Biomedical’s earnings, with the lowest sales estimate coming in at $3.07 million and the highest estimate coming in at $24.00 million. Clearside Biomedical reported sales of $10,000.00 in the same quarter last year, which indicates a positive year over year growth rate of 137,200%. The business is scheduled to report its next earnings report on Wednesday, March 9th.
According to Zacks, analysts expect that Clearside Biomedical will report full-year sales of $17.62 million for the current financial year, with estimates ranging from $6.96 million to $27.89 million. For the next fiscal year, analysts anticipate that the firm will report sales of $12.76 million, with estimates ranging from $4.00 million to $19.57 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Clearside Biomedical.
Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Wednesday, November 10th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Clearside Biomedical had a negative return on equity of 161.73% and a negative net margin of 652.60%. During the same period in the prior year, the business earned ($0.05) earnings per share.
Shares of NASDAQ CLSD traded up $0.28 during trading on Thursday, hitting $4.04. The company had a trading volume of 462,536 shares, compared to its average volume of 1,276,238. The company has a market cap of $241.05 million, a P/E ratio of -8.78 and a beta of 1.73. Clearside Biomedical has a 52 week low of $1.66 and a 52 week high of $7.73. The business’s 50-day moving average is $5.44 and its 200 day moving average is $4.99.
In other Clearside Biomedical news, major shareholder Bradford T. Whitmore sold 99,400 shares of the business’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $7.06, for a total transaction of $701,764.00. Following the sale, the insider now directly owns 3,529,845 shares of the company’s stock, valued at approximately $24,920,705.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 321,488 shares of company stock worth $2,227,836. Company insiders own 11.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Clearside Biomedical by 50.0% in the second quarter. JPMorgan Chase & Co. now owns 7,500 shares of the company’s stock worth $37,000 after acquiring an additional 2,500 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Clearside Biomedical in the first quarter worth $51,000. Walleye Capital LLC acquired a new position in shares of Clearside Biomedical in the second quarter worth $88,000. Squarepoint Ops LLC acquired a new position in shares of Clearside Biomedical in the first quarter worth $248,000. Finally, Ameritas Investment Company LLC acquired a new position in shares of Clearside Biomedical in the second quarter worth $247,000. 33.13% of the stock is currently owned by institutional investors and hedge funds.
About Clearside Biomedical
Clearside Biomedical, Inc is a biopharmaceutical company, which engages in the development of drug therapies to treat blinding diseases of the eye. Its pipeline includes Suprachoroidal CLS-TA, Suprachoroidal, Suprachoroidal CLS-TA, and gene therapy. The company was founded by Samir Kumar Patel, Vladimir Zarnitsyn, Mark Prausnitz, Daniel H.
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