Please ensure Javascript is enabled for purposes of website accessibility

Why Clearside Biomedical Stock Surged Today

By Joe Tenebruso - Jun 17, 2021 at 3:38PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Analysts are excited about the biotech's investigational treatment for a common eye disorder.

What happened

Shares of Clearside Biomedical (CLSD -3.15%) jumped on Thursday following bullish analyst commentary. As of 3 p.m. EDT, the biopharmaceutical company's stock price was up more than 12% after rising as much as 47% earlier in the day.

So what

Clearside Biomedical is developing an experimental treatment for wet age-related macular degeneration (AMD). The biotech announced positive phase 1/2a safety results on Tuesday for CLS-AX, which showed that the drug was well tolerated with no serious adverse events reported during the trial. 

A doctor is shining a light into an older patient's eyes.

Investors bid up eye care specialist Clearside Biomedical's shares on Thursday. Image source: Getty Images.

This morning, Wedbush analyst Liana Moussatos reiterated her outperform rating on Clearside Biomedical's stock and boosted her share-price forecast from $6 to $18. In addition to the promising results from its early-stage trial for CLS-AX, the biotech's specialized injection platform, Moussatos noted, could help doctors better treat eye diseases by providing a more effective way to deliver drugs into patients' eyes. 

Now what 

Moussatos's new price target represents potential gains for shareholders of nearly 300% from the stock's current price near $4.57. That possible upside is certainly intriguing. However, as an early-stage, small-cap biotechnology company, Clearside Biomedical remains a relatively high-risk investment. And its stock price is likely to remain volatile in the days and months ahead.

Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Clearside Biomedical, Inc. Stock Quote
Clearside Biomedical, Inc.
$1.54 (-3.15%) $0.05

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/16/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.