Analyst Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Clene and keeping the price target at $31.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Joseph Pantginis has given his Buy rating due to a combination of factors related to Clene’s promising therapeutic developments. The company has presented compelling data from their Phase 2 trials, REPAIR-MS and REPAIR-PD, which demonstrate CNM-Au8’s potential to enhance brain energy capacity in patients with multiple sclerosis (MS) and Parkinson’s disease (PD). These findings suggest significant improvements in brain metabolism, as evidenced by increased NAD+/NADH ratios, which are crucial indicators of neuronal health.
Moreover, Clene’s engagement with regulatory authorities, including a recent Type B End-of-Phase 2 meeting with the FDA, indicates a positive outlook for CNM-Au8’s regulatory pathway, particularly in MS treatment. The FDA’s openness to considering additional primary endpoints in future trials, such as cognition and broader treatment effects, further supports the potential for CNM-Au8 to address unmet medical needs. These factors collectively underpin Pantginis’s optimistic outlook and Buy rating for Clene’s stock.
According to TipRanks, Pantginis is an analyst with an average return of -5.7% and a 39.41% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Travere Therapeutics, Capricor Therapeutics, and Krystal Biotech.
In another report released on September 10, Benchmark Co. also maintained a Buy rating on the stock with a $31.00 price target.