Wedbush Comments on Clearside Biomedical Inc.’s FY2016 Earnings (CLSD)
Clearside Biomedical Inc. (NASDAQ:CLSD) – Equities research analysts at Wedbush lifted their FY2016 earnings per share (EPS) estimates for shares of Clearside Biomedical in a report issued on Wednesday. Wedbush analyst L. Moussatos now forecasts that the brokerage will post earnings per share of ($1.45) for the year, up from their prior forecast of ($2.39). Wedbush currently has a “Outperform” rating and a $28.00 target price on the stock. Wedbush also issued estimates for Clearside Biomedical’s Q4 2016 earnings at ($0.30) EPS, FY2017 earnings at ($1.04) EPS, FY2018 earnings at ($1.16) EPS, FY2019 earnings at ($0.84) EPS and FY2020 earnings at $1.67 EPS.
CLSD has been the topic of several other reports. Zacks Investment Research upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Tuesday, November 1st. Needham & Company LLC upped their target price on Clearside Biomedical from $16.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 10th. Finally, Stifel Nicolaus upped their target price on Clearside Biomedical from $13.00 to $23.00 and gave the company a “buy” rating in a report on Monday, October 24th. Five research analysts have rated the stock with a buy rating, Clearside Biomedical currently has a consensus rating of “Buy” and an average price target of $24.25.
Clearside Biomedical (NASDAQ:CLSD) opened at 20.99 on Monday. The stock’s 50 day moving average is $19.07 and its 200 day moving average is $10.97. The company’s market capitalization is $430.15 million. Clearside Biomedical has a 52 week low of $5.65 and a 52 week high of $25.08.
Institutional investors have recently modified their holdings of the stock. Perceptive Advisors LLC acquired a new position in shares of Clearside Biomedical during the second quarter valued at about $4,450,000. Hillhouse Capital Management Ltd. acquired a new position in shares of Clearside Biomedical during the third quarter valued at about $10,410,000. Marshall Wace LLP acquired a new position in shares of Clearside Biomedical during the second quarter valued at about $1,122,000. Iguana Healthcare Management LLC acquired a new position in shares of Clearside Biomedical during the second quarter valued at about $526,000. Finally, AWM Investment Company Inc. acquired a new position in shares of Clearside Biomedical during the second quarter valued at about $350,000. 38.03% of the stock is currently owned by hedge funds and other institutional investors.
About Clearside Biomedical
Clearside Biomedical, Inc is a late-stage clinical biopharmaceutical company. The Company is developing drug therapies to treat blinding diseases of the eye. The Company’s product candidates are focused on diseases affecting the retina and choroid, especially diseases associated with macular edema, and are injected into the suprachoroidal space (SCS) adjacent to the choroid, using its SCS Microinjector.
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