Analyst Joseph Pantginis of H.C. Wainwright maintained a Buy rating on Clene (CLNN – Research Report), retaining the price target of $31.00.
Joseph Pantginis has given his Buy rating due to a combination of factors that highlight the promising potential of Clene’s CNM-Au8 treatment for ALS. The recent long-term survival data from the HEALEY ALS Platform Trial indicates that CNM-Au8 shows a significant survival benefit compared to zilucoplan, a competitor regimen. This data reinforces earlier findings from various phases of the trial, suggesting that CNM-Au8 could lead to improved survival outcomes for ALS patients.
Furthermore, the evidence supports ongoing discussions with the FDA regarding accelerated approval, which could expedite CNM-Au8’s availability to patients. The planned initiation of the Phase 3 RESTORE-ALS study in mid-2025 further underscores the potential for CNM-Au8 to make a meaningful impact in the treatment of ALS. These factors collectively contribute to Pantginis’s optimistic outlook and Buy rating for Clene’s stock.