HC Wainwright Brokers Increase Earnings Estimates for CLSD

Clearside Biomedical, Inc. (NASDAQ:CLSD) – HC Wainwright upped their FY2024 earnings estimates for 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 of ($0.49) per share for the year, up from their prior 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.

Several other research analysts have also issued reports on the stock. StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday. Needham & Company LLC restated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Wednesday, November 13th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Friday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.33.

Clearside Biomedical Price Performance

CLSD stock opened at $1.02 on Monday. The company has a 50 day moving average price of $1.19 and a 200 day moving average price of $1.19. Clearside Biomedical has a fifty-two week low of $0.92 and a fifty-two week high of $2.12. The stock has a market capitalization of $77.36 million, a PE ratio of -2.22 and a beta of 2.33.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) EPS 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 analyst estimates of $0.25 million. During the same quarter last year, the firm earned ($0.15) earnings per share.

Insiders Place Their Bets

In related news, insider Ngai Hang Victor Chong bought 36,500 shares of Clearside Biomedical stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $1.00 per share, with a total value of $36,500.00. Following the acquisition, the insider now owns 100,000 shares in the company, valued at $100,000. This trade represents a 57.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of Clearside Biomedical during the 1st quarter valued at $49,000. Vanguard Group Inc. boosted its stake in shares of Clearside Biomedical by 14.5% during the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after purchasing an additional 314,480 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical during the second quarter valued at about $368,000. Renaissance Technologies LLC grew its holdings in shares of Clearside Biomedical by 6.6% during the second 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 last quarter. Finally, XTX Topco Ltd increased its stake in shares of Clearside Biomedical by 172.2% in 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. Institutional investors own 18.75% of the company’s stock.

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.