Clene price target raised to $8 from $6 at Cantor Fitzgerald

Cantor Fitzgerald analyst Charles Duncan raised the firm’s price target on Clene to $8 from $6 and keeps an Overweight rating on the shares after the company announced new data from exploratory analyses, including delayed time to key clinical progression events in amyotrophic lateral sclerosis patients treated with CNM-Au8, from the HEALEY ALS Platform study over 6-months of the double-blind period. In addition to the decreased risk of ALS clinical worsening, an additional observation that the firm finds encouraging is that all composite measures used to capture clinical worsening consistently favored ‘Au8 when compared to pbo, which solidifies this as a signal of efficacy, the analyst tells investors in a research note.