Clearside BioMedical, Inc. CLSD, a biopharmaceutical company, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CLSD’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Clearside BioMedical could be a solid choice for investors.
Current Quarter Estimates for CLSD
In the past 30 days, 2 estimates have gone higher for Clearside BioMedical while no estimates have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 56 cents a share 30 days ago, to a loss of 32 cents today, a move of 42.9%.
Current Year Estimates for CLSD
Meanwhile, Clearside BioMedical’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to no lower estimates. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $2.05 per share 30 days ago to $1.56 per share today, an increase of 23.9%.
The stock has also started to move higher lately, adding 18.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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