Clene (NASDAQ:CLNN) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Clene (NASDAQ:CLNN) from a sell rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

Several other analysts have also recently commented on CLNN. Weiss Ratings cut Clene from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 27th. HC Wainwright reissued a “buy” rating on shares of Clene in a research report on Monday, October 19th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.00.

Clene Trading Down 0.5%

Shares of CLNN opened at $3.95 on Friday. The stock’s 50-day moving average price is $3.89 and its two-hundred day moving average price is $5.13. Clene has a 12 month low of $3.02 and a 12 month high of $10.84. The company has a market capitalization of $56.88 million, a PE ratio of -1.52 and a beta of 1.04.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.50. The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.07 million. Equities research analysts predict that Clene will post -1.05 EPS for the current fiscal year.

About Clene

Clene Inc is a clinical-stage biopharmaceutical company developing nanotherapeutic treatments for neurodegenerative diseases. The company’s lead product candidate, CNM-Au8, is an investigational oral suspension containing catalytically active gold nanocrystals designed to support cellular energy production and reduce oxidative stress, with the goal of protecting and improving the function of nerve cells.

Clene has studied CNM-Au8 in conditions including amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS), and has also investigated its potential applications in other neurodegenerative disorders.