Clene (NASDAQ:CLNN) Announces Earnings Results

Clene (NASDAQ:CLNN) released its earnings results on Monday. The company reported ($1.67) EPS for the quarter, missing the consensus estimate 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%. The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.13 million.

Clene Price Performance

Shares of Clene stock opened at $3.46 on Wednesday. The stock’s 50-day moving average is $4.52 and its 200 day moving average is $4.89. The firm has a market cap of $28.81 million, a price-to-earnings ratio of -0.66 and a beta of 0.27. Clene has a one year low of $3.37 and a one year high of $9.20.

Analyst Ratings Changes

A number of brokerages have weighed in on CLNN. D. Boral Capital reaffirmed a “buy” rating and issued a $23.00 target price on shares of Clene in a report on Monday. HC Wainwright restated a “buy” rating and issued a $31.00 price target on shares of Clene in a research report on Monday. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $55.25.

About Clene

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.