Clene price target lowered to $86 from $94 at Canaccord

Canaccord analyst Sumant Kulkarni lowered the firm’s price target on Clene to $86 from $94 and keeps a Buy rating on the shares. The firm noted they recently closed a registered direct offering and amended a debt agreement, which means the company now has a cash runway into 1Q25. They view this step as important as this runway now extends beyond a key catalyst for the shares.