Clene (NASDAQ:CLNN) Earns “Buy” Rating from D. Boral Capital

Clene (NASDAQ:CLNN)‘s stock had its “buy” rating reissued by stock analysts at D. Boral Capital in a research note issued on Thursday,Benzinga reports. They presently have a $23.00 price objective on the stock. D. Boral Capital’s target price points to a potential upside of 427.52% from the stock’s current price.

CLNN has been the topic of a number of other reports. Canaccord Genuity Group reduced their target price on shares of Clene from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $31.00 price objective on shares of Clene in a report on Thursday, November 14th. Finally, Benchmark lowered their target price on Clene from $90.00 to $84.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $55.25.

Clene Price Performance

CLNN stock opened at $4.36 on Thursday. Clene has a 12 month low of $3.82 and a 12 month high of $10.65. The firm’s 50-day moving average is $4.79 and its 200 day moving average is $5.04. The company has a market capitalization of $35.97 million, a PE ratio of -0.83 and a beta of 0.24.

Institutional Trading of Clene

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Castleview Partners LLC purchased a new stake in shares of Clene during the 3rd quarter worth $59,000. SBI Securities Co. Ltd. bought a new position in Clene in the fourth quarter worth about $69,000. Finally, Parsons Capital Management Inc. RI purchased a new stake in shares of Clene during the fourth quarter valued at about $194,000. 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.