Clene Inc. (NASDAQ:CLNN) Stock Has Consensus Target Price of $34.00

Key Points

• Analyst sentiment is moderately bullish: Seven analysts give Clene a consensus “Moderate Buy” rating, with six buys and one sell, and an average 12-month price target of $34.00 versus the stock’s $3.88 price.
• Clene’s stock remains under pressure: Shares have a market capitalization of about $50.4 million and trade near their 52-week low, while the company’s latest quarterly loss of $1.08 per share significantly exceeded the expected loss of $0.37.
• Clene is a clinical-stage biopharmaceutical company developing nanotherapeutic treatments for neurodegenerative diseases, led by its CNM-Au8 candidate for conditions including ALS, multiple sclerosis and Parkinson’s disease.

Shares of Clene Inc. (NASDAQ:CLNN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $34.00.

Several equities research analysts have recently commented on the company. Weiss Ratings raised Clene from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, October 9th. HC Wainwright reissued a "buy" rating on shares of Clene in a research note on Monday, October 19th.

Clene Stock Performance

NASDAQ CLNN opened at $3.88 on Friday. The stock has a market capitalization of $50.40 million, a P/E ratio of -1.11 and a beta of 0.91. Clene has a 1 year low of $3.02 and a 1 year high of $13.50. The business's fifty day moving average is $3.97 and its two-hundred day moving average is $5.28.

Clene (NASDAQ:CLNN - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.08) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.71). The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.06 million. On average, research analysts forecast that Clene will post -1.70 earnings per share for the current year.

Clene Company Profile

Clene Inc NASDAQ: CLNN is a clinical-stage biopharmaceutical company developing nanotherapeutic medicines for neurodegenerative diseases. The company's platform uses clean-surfaced nanocrystals designed to influence cellular energy production and support the health and function of nerve cells.

Clene's lead product candidate is CNM-Au8, an orally administered suspension of gold nanocrystals. The company has studied CNM-Au8 in conditions including amyotrophic lateral sclerosis (ALS), multiple sclerosis and Parkinson's disease, with research focused on potential neuroprotective and remyelinating effects.

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