Clene (NASDAQ:CLNN) Price Target Increased to $31.00 by Analysts at HC Wainwright

Clene (NASDAQ:CLNN) had its price objective increased by HC Wainwright from $7.00 to $31.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Clene’s Q3 2024 earnings at ($1.32) EPS, Q4 2024 earnings at ($1.55) EPS, FY2024 earnings at ($5.62) EPS, FY2025 earnings at ($5.80) EPS, FY2026 earnings at ($4.82) EPS, FY2027 earnings at $1.41 EPS and FY2028 earnings at $12.59 EPS.

CLNN has been the subject of several other research reports. Canaccord Genuity Group reaffirmed a buy rating and set a $94.00 price objective on shares of Clene in a research report on Tuesday, August 6th. Benchmark restated a buy rating and issued a $100.00 target price on shares of Clene in a research report on Thursday, May 23rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $101.00.

Clene Stock Up 1.0 %

NASDAQ CLNN opened at $5.11 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.66. The company has a market cap of $33.06 million, a price-to-earnings ratio of -0.56 and a beta of 0.46. The company has a 50 day moving average of $6.06 and a 200-day moving average of $7.39. Clene has a 1-year low of $3.82 and a 1-year high of $15.57.

Clene (NASDAQ:CLNN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.54. The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.10 million. Clene had a negative return on equity of 315.97% and a negative net margin of 6,890.50%. On average, equities research analysts expect that Clene will post -5.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Clene stock. Csenge Advisory Group increased its stake in shares of Clene Inc. (NASDAQ:CLNN) by 131.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,600 shares of the company’s stock after purchasing an additional 153,000 shares during the quarter. Csenge Advisory Group owned approximately 0.21% of Clene worth $96,000 at the end of the most recent reporting period. Institutional investors own 23.28% of the company’s stock.

Clene Company Profile

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug candidate is CNM-Au8, which is being studied in various clinical trials, including a completed Phase 2 platform trial to evaluate the safety and efficacy of CNM-Au8 in patients with amyotrophic lateral sclerosis (ALS); completed Phase 2 proof of concept clinical trial in patients with early symptomatic ALS; completed two open-label investigator blinded Phase 2 clinical trials on the brain's energy metabolites; completed Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a second Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.