Clene (NASDAQ:CLNN) Issues Earnings Results

Clene (NASDAQ:CLNN) announced its quarterly earnings data on Monday. The company reported ($1.67) EPS for the quarter, missing analysts’ consensus estimates 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%.

Clene Stock Performance

Clene stock opened at $4.05 on Monday. Clene has a 1 year low of $3.82 and a 1 year high of $9.20. The firm has a 50 day moving average price of $4.57 and a 200 day moving average price of $4.92. The company has a market cap of $33.68 million, a price-to-earnings ratio of -0.77 and a beta of 0.27.

Analyst Ratings Changes

Several brokerages have issued reports on CLNN. D. Boral Capital reissued a “buy” rating and set a $23.00 price objective on shares of Clene in a research report on Monday. HC Wainwright reiterated a “buy” rating and issued a $31.00 price objective on shares of Clene in a research note on Wednesday, March 12th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Clene has a consensus rating of “Buy” and an average target price of $55.25.

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.