Analyst Justin Walsh of JonesTrading reiterated a Buy rating on Clene, retaining the price target of $30.00.
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Justin Walsh has given his Buy rating due to a combination of factors surrounding Clene’s CNM-Au8 asset. The potential for CNM-Au8 to receive accelerated approval is high, contingent on favorable additional data, due to its promising safety and tolerability profile. This makes it an attractive option for the ALS community, which is in need of well-tolerated treatments that do not exacerbate patients’ conditions.
Furthermore, the mechanism of action of CNM-Au8 is considered plausible, as it targets cell energy metabolism, a factor linked to ALS progression. The significant demand for participation in the CNM-Au8 expanded access program underscores the interest and potential adoption of this treatment. These elements collectively support the Buy rating and the $30 price target set by Justin Walsh.
Walsh covers the Healthcare sector, focusing on stocks such as Perspective Therapeutics, Achieve Life Sciences, and Alto Neuroscience, Inc.. According to TipRanks, Walsh has an average return of 17.8% and a 36.33% success rate on recommended stocks.