D. Boral Capital Reiterates “Buy” Rating for Clene (NASDAQ:CLNN)

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating restated by research analysts at D. Boral Capital in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $23.00 price target on the stock.

CLNN has been the topic of several other reports. HC Wainwright reiterated a “buy” rating and issued a $31.00 price objective on shares of Clene in a research note on Tuesday, April 8th. Jones Trading started coverage on shares of Clene in a research report on Wednesday, April 23rd. They set a “buy” rating and a $30.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Clene presently has an average rating of “Buy” and a consensus target price of $50.20.

Clene Trading Down 10.5 %

Shares of NASDAQ CLNN opened at $2.55 on Thursday. The stock has a market capitalization of $22.69 million, a PE ratio of -0.48 and a beta of 0.46. Clene has a twelve month low of $2.55 and a twelve month high of $9.20. The stock has a fifty day simple moving average of $3.43 and a 200-day simple moving average of $4.37.

Clene (NASDAQ:CLNN) last released its earnings results on Monday, March 24th. The company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.46). The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.13 million. Clene had a negative net margin of 8,556.77% and a negative return on equity of 1,106.30%. On average, equities analysts predict that Clene will post -5.19 earnings per share for the current year.

Hedge Funds Weigh In On Clene

Hedge funds have recently made changes to their positions in the company. Penn Davis Mcfarland Inc. acquired a new stake in shares of Clene in the 1st quarter valued at about $34,000. SBI Securities Co. Ltd. purchased a new stake in Clene during the fourth quarter worth about $69,000. Fullcircle Wealth LLC acquired a new position in Clene during the fourth quarter worth $69,000. Renaissance Technologies LLC purchased a new position in shares of Clene during the 4th quarter worth approximately $96,000. Finally, Parsons Capital Management Inc. RI acquired a new position in Clene in the 4th quarter valued at about $194,000. Hedge funds and other 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.