Clearside Biomedical, Inc. (CLSD): A Look At Earnings Reactions And Report Day Volatility

91 days have passed by since the last earnings report for Clearside Biomedical, Inc. (NASDAQ:CLSD) and the new quarterly results look set to arrive today. The shares of CLSD at the moment are trading at a volume of 0.34 million, which compares with its normal daily standard volume of 325309 shares. This has led to the shares of the company declining by -3.77%, currently exchanging hands at $1.02 a share. CLSD stock has been up by $6.92 (-87.25%) ever since it reached its 52-week high of $7.942 back in August 09, 2018. It has progressed below its 50-day moving average of $1.0941 and is down -11.3% over the past week. The stock has retreated -13.1% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the CLSD share price due for a breakout?

Clearside Biomedical, Inc. (CLSD) Forecasts And Latest Quarter Earnings

Ahead of their fiscal second-quarter to be released on Wednesday, Aug 07, 2019, 8 analysts who are covering the company are estimating that it will record a profit of -$0.39 per share, with analysts having different outlooks from -$0.47 to -$0.26. The current agreed outlook, when compared to the profit recorded last year, is at -$0.65 a share, thus a decrease of -40% is expected. The profit view for a complete financial year for Clearside Biomedical, Inc. is expected to be around -$1.51 in current year, a growth of nearly -43.87% from last year which was -$2.69.

Analyzing The Earnings History Of Clearside Biomedical, Inc. (NASDAQ:CLSD)

In the past few years, the CLSD stock has been known to miss the Wall Street’s earnings projection. The company missed 75% of the time, according to the data pulled on their earnings, was able to meet predictions on 0 occasions and topped expectations 3 times. Looking at the past trend, the price of Clearside Biomedical, Inc. shares had sank following the release of their earnings in 7 of the last 12 quarters.

Looking back, here is how Clearside Biomedical, Inc. (CLSD) stock reacted to earnings misses and beats. It gave investors reason to be bearish with the price going down after 3 of the last four earnings reports. The shares of Clearside Biomedical, Inc. recorded -0.82%, -2.14%, -9.59% and 6.06%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were 4.92%, 1.43%, -31.51% and -3.1%. Their post-earnings price movements have resulted in an average decrease of -1.62% and an average decrease of -7.07% in Clearside Biomedical, Inc. on next day and 7th day, sequentially. CLSD’s one month stock performance led to its shares declining by -6.42% with a return of -86.94% witnessed over the last 52 weeks.

The higher number of analysts at Reuters has assigned a buy or better ratings (5) on the Clearside Biomedical, Inc. stock, while 2 of them have a rating of a Hold with the 11-year target price suggested by the analysts standing at $5.5. This price target implies potential upside of 439.22 percent over the next 12 months based on the current share price.

Clearside Biomedical, Inc. (CLSD) Post Earnings Announcement Drift (PEAD)

Back on May 08, 2019, Clearside Biomedical, Inc. (NASDAQ:CLSD) released its Q1 results, in which it recorded a loss of -$0.45 that fell short of consensus estimates of -$0.4. After the earnings were reported, the price of CLSD stock kicked off the session at $1.19 and remained in a range of $1.2 to $1.24 on the first day. The shares were priced at $1.21 at the close with a total volume of shares being 208532.

On March 12, 2019, the Q4 earnings report was disclosed with loss per share of -$0.68. This was below the estimation of -$0.57 per share. The stock price range of CLSD was between $1.32 and $1.4 on the first-day post announcement, after opening the day at $1.32. The session came to close at $1.37 and there was a total volume of 1107117 shares.

November 08, 2018 was the day when its Q3 results were unveiled. The loss came in at -$0.75, missing the projected -$0.63 per share. The very next day, CLSD stock opened at $1.9 while staying in a range of $2.23 to $2.26. At the end, it moved to $1.98 a total volume of shares been 975543.

In the year-ago Q2 earnings on August 08, 2018, the company saw a loss per share of -$0.65. That was worse than the -$0.58 analysts had expected. Clearside Biomedical, Inc. share price started at $7.4 on the first full trading day post-earning and then exchanged hands between $7.4 and $7.93 throughout the session. The closing price of $7.88 came on the back of 312172 shares in volume.