Clene price target lowered to $83 from $86 at Canaccord

Canaccord analyst Sumant Kulkarni lowered the firm’s price target on Clene (CLNN) to $83 from $86 and keeps a Buy rating on the shares. The firm noted they reported results with the key update for that the company held its planned meeting with the FDA on Novemebr 01 to discuss the potential to file a new drug application (NDA) for CNM-Au8 (nanocrystalline gold) for amyotrophic lateral sclerosis (ALS) under an accelerated approval pathway. Canaccord noted the company did not provide any characterization of the outcome of the meeting, which we view as the key near-term stock driver.