Clene price target lowered to $7 from $15 at H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis lowered the firm’s price target on Clene to $7 from $15 and keeps a Buy rating on the shares, citing an adjustment to the fully diluted share count from the June equity raise, an adjustment to its base year and increasing its projected chance of success for ALS to 35% from 20% based on recent clinical data support.