JonesResearch has commenced coverage of Clene (CLNN, Financial) with a positive outlook, assigning a Buy rating and setting a price target of $30. Clene, a clinical-stage pharmaceutical firm, is focused on developing nanotechnology-based therapies to address central nervous system disorders.
The analyst at JonesResearch highlighted that recent challenges faced by Clene in its clinical trials for amyotrophic lateral sclerosis (ALS) should not be viewed as the final outcome. Despite these setbacks, the firm believes that the market has prematurely dismissed the possibility of expedited regulatory approval for Clene's treatments.
JonesResearch's optimistic assessment suggests confidence in Clene's potential to overcome current obstacles and achieve future success in the pharmaceutical industry.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Clene Inc (CLNN, Financial) is $45.17 with a high estimate of $84.00 and a low estimate of $20.00. The average target implies an upside of 1,415.66% from the current price of $2.98. More detailed estimate data can be found on the Clene Inc (CLNN) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, Clene Inc's (CLNN, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Clene Inc (CLNN, Financial) in one year is $3.45, suggesting a upside of 15.77% from the current price of $2.98. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Clene Inc (CLNN) Summary page.
