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

Clene Inc. (NASDAQ:CLNN) has been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $34.00.

CLNN has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of Clene in a research report on Monday, October 19th. Weiss Ratings lowered shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday.

Clene Stock Down 1.8%

CLNN stock opened at $3.83 on Friday. The business has a 50 day moving average price of $3.95 and a 200 day moving average price of $5.16. The stock has a market cap of $49.75 million, a price-to-earnings ratio of -1.09 and a beta of 0.91. Clene has a fifty-two week low of $3.02 and a fifty-two week high of $13.50.

Clene (NASDAQ:CLNN) last announced its quarterly earnings results on Friday, August 14th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.71). The business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.06 million. As a group, sell-side analysts anticipate that Clene will post -1.70 EPS for the current year.

Clene Company Profile

Clene Inc is a clinical-stage biopharmaceutical company developing nanotherapeutic treatments for neurodegenerative diseases. The company’s lead product candidate, CNM-Au8, is an investigational oral suspension containing catalytically active gold nanocrystals designed to support cellular energy production and reduce oxidative stress, with the goal of protecting and improving the function of nerve cells.

Clene has studied CNM-Au8 in conditions including amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS), and has also investigated its potential applications in other neurodegenerative disorders.