Clene (NASDAQ:CLNN – Free Report) had its target price increased by HC Wainwright from $7.00 to $31.00 in a report released on Friday morning, Benzinga reports. HC Wainwright currently has 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 topic of several other reports. Benchmark reissued a buy rating and issued a $100.00 price objective on shares of Clene in a report on Thursday, May 23rd. Canaccord Genuity Group reissued a buy rating and issued a $94.00 price objective on shares of Clene in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $101.00.
Read Our Latest Stock Report on CLNN
Clene Stock Performance
Clene (NASDAQ:CLNN – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.60) by $0.54. Clene had a negative return on equity of 224.28% and a negative net margin of 7,873.23%. The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.10 million. On average, equities research analysts expect that Clene will post -6.8 earnings per share for the current fiscal year.
Institutional Trading of Clene
A hedge fund recently raised its stake in Clene stock. Csenge Advisory Group lifted its position in Clene Inc. (NASDAQ:CLNN – Free Report) by 131.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,600 shares of the company’s stock after acquiring an additional 153,000 shares during the period. Csenge Advisory Group owned 0.21% of Clene worth $96,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 23.28% of the stock is currently owned by institutional investors.
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.
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