What happened
Shares of Clearside Biomedical (CLSD -3.25%) 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.](https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F631084%2Feye-care-gettyimages-1254897653.jpg&op=resize&w=700)
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.