HC Wainwright Reaffirms “Buy” Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports.

Separately, Weiss Ratings upgraded Clene from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 9th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Clene currently has an average rating of “Moderate Buy” and an average target price of $34.00.

Clene Trading Up 0.8%

Shares of Clene stock opened at $3.76 on Monday. The firm has a market capitalization of $48.84 million, a PE ratio of -1.07 and a beta of 0.91. The business’s 50-day moving average price is $3.98 and its 200-day moving average price is $5.30. Clene has a 12 month low of $3.02 and a 12 month high of $13.50.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.71). The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.06 million. As a group, analysts predict that Clene will post -1.70 earnings per share for the current fiscal 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.