Clene price target lowered to $48 from $83 at Canaccord

Canaccord lowered the firm’s price target on Clene (CLNN) to $48 from $83 and keeps a Buy rating on the shares. The firm updated its model following Q2 results but admits clarity from the FDA on its ability to file for accelerated approval or not for its ALS and Ms drugs are the key. They now include contributions from ALS and MS at probabilities of approval of 33% and 20%, respectively in their model.