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

Clearside Biomedical, Inc. (NASDAQ:CLSD) – Research analysts at HC Wainwright increased their FY2024 earnings estimates for Clearside Biomedical in a research report issued to clients and 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 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.

CLSD has been the topic of a number of other reports. Chardan Capital reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Friday. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Clearside Biomedical currently has an average rating of “Moderate Buy” and a consensus target price of $5.33.

Clearside Biomedical Price Performance

CLSD stock opened at $0.99 on Monday. The business’s 50-day moving average is $1.19 and its two-hundred day moving average is $1.19. The firm has a market capitalization of $75.08 million, a P/E ratio of -2.20 and a beta of 2.33. Clearside Biomedical has a 1 year low of $0.90 and a 1 year high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04. The company had revenue of $1.04 million during the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share.

Insider Buying and Selling at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $1.00 per share, with a total value of $36,500.00. Following the purchase, the insider now 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 filing with the SEC, which is available at this link. Insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after acquiring an additional 314,480 shares in the last quarter. Geode Capital Management LLC increased its holdings in Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after purchasing an additional 59,089 shares in the last quarter. Renaissance Technologies LLC raised its position in Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after purchasing an additional 35,900 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Clearside Biomedical during the second quarter worth about $368,000. Finally, Johnson & Johnson acquired a new position in shares of Clearside Biomedical during the third quarter worth about $105,000. Institutional investors and hedge funds 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.