What happened

Shares of Clearside Biomedical (CLSD 0.78%) 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.