H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Clene (CLNN – Research Report) on March 21 and set a price target of $31.00.
Joseph Pantginis has given his Buy rating due to a combination of factors including Clene’s strategic focus on advancing CNM-Au8 for the treatment of ALS. The company has made significant progress in its regulatory interactions, having received feedback from the FDA that could potentially support accelerated approval. This feedback involves the collection and analysis of new NfL biomarker data, which Clene plans to finalize and submit in the second half of 2025.
Additionally, Clene’s recent long-term survival data from the HEALEY ALS Platform Trial further supports the potential efficacy of CNM-Au8. The data demonstrated improved survival outcomes compared to peer regimens, which bolsters confidence in the drug’s progress into the Phase 3 RESTORE-ALS study. These developments, combined with the company’s financial strategy and operational runway, underpin Pantginis’s optimistic outlook on Clene’s stock.