Clene (NASDAQ:CLNN) Issues Earnings Results, Misses Expectations By $0.46 EPS

Clene (NASDAQ:CLNN) posted its quarterly earnings results on Monday. The company reported ($1.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.46), Zacks reports. Clene had a negative return on equity of 1,106.30% and a negative net margin of 8,556.77%. The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.13 million.

Clene Trading Down 11.7 %

NASDAQ CLNN opened at $3.46 on Wednesday. The firm has a market capitalization of $28.81 million, a P/E ratio of -0.66 and a beta of 0.27. The business has a fifty day simple moving average of $4.52 and a 200 day simple moving average of $4.89. Clene has a 12 month low of $3.37 and a 12 month high of $9.20.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Clene in a research report on Monday. HC Wainwright restated a “buy” rating and set a $31.00 price objective on shares of Clene in a report on Monday. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Clene currently 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.