Clene, the Consumer Defensive sector company, was revisited by a Wall Street analyst yesterday. Analyst Justin Walsh from JonesTrading maintained a Buy rating on the stock and has a $30.00 price target.
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Justin Walsh has given his Buy rating due to a combination of factors surrounding Clene’s potential in the ALS treatment landscape. The company’s CNM-Au8 asset is highlighted as a promising therapeutic option for ALS, a field with significant unmet medical needs. Current treatments like Riluzole and RADICAVA offer limited benefits, and recent developments have seen some drugs pulled from the market, emphasizing the need for innovative solutions.
Clene’s CNM-Au8 is positioned as a potential game-changer in this space, with its unique approach to treating ALS. The ongoing research and late-stage trials of CNM-Au8 suggest it could play a crucial role in addressing the gaps left by existing therapies. This potential for CNM-Au8 to significantly impact ALS treatment underpins Walsh’s optimistic outlook and Buy rating for Clene’s stock.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CLNN in relation to earlier this year.