Clene (NASDAQ:CLNN) Posts Earnings Results, Misses Expectations By $0.46 EPS

Clene (NASDAQ:CLNN) released its quarterly earnings results on Monday. The company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.46), Zacks reports. Clene had a negative net margin of 8,556.77% and a negative return on equity of 1,106.30%. The firm had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.13 million.

Clene Trading Down 5.3 %

Shares of CLNN opened at $3.92 on Tuesday. The firm has a market capitalization of $32.64 million, a P/E ratio of -0.74 and a beta of 0.27. Clene has a 12-month low of $3.82 and a 12-month high of $9.20. The firm has a fifty day moving average price of $4.55 and a 200-day moving average price of $4.91.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and set a $31.00 price objective on shares of Clene in a research report on Monday. D. Boral Capital reissued a “buy” rating and set a $23.00 price objective on shares of Clene in a research note on Monday. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $55.25.

About Clene

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.