What is HC Wainwright's Forecast for CLSD FY2024 Earnings?

Clearside Biomedical, Inc. (NASDAQ:CLSD - Free Report) - Equities researchers at HC Wainwright increased their FY2024 earnings estimates for Clearside Biomedical in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst Y. Chen now expects 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 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.

A number of other brokerages have also recently issued reports on CLSD. StockNews.com raised shares of Clearside Biomedical from a "sell" rating to a "hold" rating in a research note on Saturday. Needham & Company LLC reaffirmed a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Wednesday, November 13th. Finally, Chardan Capital reissued a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday. One 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, Clearside Biomedical presently has a consensus rating of "Moderate Buy" and an average price target of $5.33.

Clearside Biomedical Stock Up 3.0 %

Shares of NASDAQ CLSD traded up $0.03 during trading hours on Monday, reaching $1.02. 346,865 shares of the stock traded hands, compared to its average volume of 400,729. The company has a market capitalization of $77.36 million, a P/E ratio of -2.22 and a beta of 2.33. The company's 50-day simple moving average is $1.19 and its two-hundred day simple moving average is $1.19. Clearside Biomedical has a 52-week low of $0.92 and a 52-week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $0.25 million. During the same quarter last year, the firm posted ($0.15) earnings per share.

Insider Activity

In related news, insider Ngai Hang Victor Chong purchased 36,500 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost 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 approximately $100,000. This represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 9.20% of the company's stock.

Institutional Investors Weigh In On Clearside Biomedical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLSD. SG Americas Securities LLC bought a new stake in shares of Clearside Biomedical in the 1st quarter worth $49,000. XTX Topco Ltd boosted its position in Clearside Biomedical by 172.2% in the second quarter. XTX Topco Ltd now owns 54,313 shares of the company's stock worth $71,000 after purchasing an additional 34,359 shares during the last quarter. Johnson & Johnson bought a new stake in shares of Clearside Biomedical during the 3rd quarter valued at about $105,000. Assenagon Asset Management S.A. purchased a new stake in shares of Clearside Biomedical during the 2nd quarter valued at 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 worth $757,000 after purchasing an additional 35,900 shares during the period. 18.75% of the stock is owned by hedge funds and other institutional investors.

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.