Naz Rahman, an analyst from Maxim Group, reiterated the Buy rating on Clene (CLNN – Research Report). The associated price target is $20.00.
Naz Rahman has given his Buy rating due to a combination of factors surrounding Clene’s promising developments in their lead asset, CNM-Au8. The company’s focus on treating neurological disorders, particularly amyotrophic lateral sclerosis (ALS), with CNM-Au8, positions it well for future growth. The expected New Drug Application (NDA) filing for CNM-Au8 in the second half of 2025, contingent on additional neurofilament light chain (NfL) data, indicates a clear path forward for regulatory approval.
Clene’s financial position, with sufficient cash to sustain operations through the second quarter of 2025, supports its ongoing research and development efforts. The Orphan Drug Designation for CNM-Au8, which qualifies it for Priority Review, further enhances its potential for expedited approval. Additionally, the company’s strategic debt restructuring and anticipated reduction in operating expenses align with its focus on advancing CNM-Au8 towards market launch. These factors collectively underpin Rahman’s confidence in Clene’s prospects, leading to the reiterated Buy rating.
In another report released on March 25, Roth MKM also maintained a Buy rating on the stock with a $30.00 price target.
CLNN’s price has also changed moderately for the past six months – from $4.410 to $3.920, which is a -11.11% drop .