Open an account

Clene

CLNN · NASDAQ

$3.73+$0.44 (+13.37%)TodayMarket closed ·
Prev close $3.29

CLNN analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.
  • Strong buy0
  • Buy3
  • Hold0
  • Underperform0
  • Sell0

12-month price target · 7 analysts

Average $32.84 (+780.5% upside)

Low
$20.20
Now
$3.73
High
$52.50

Upgrades and downgrades

The latest rating actions, newest first

CLNN analyst upgrades, downgrades and rating actions
FirmDateActionRating
HC Wainwright & Co.Oct 19, 2026MaintainsBuy
HC Wainwright & Co.May 4, 2026MaintainsBuy
D. Boral CapitalMay 4, 2026MaintainsBuy
Canaccord GenuityMar 13, 2026MaintainsBuy
D. Boral CapitalMar 12, 2026MaintainsBuy
D. Boral CapitalJan 9, 2026MaintainsBuy
D. Boral CapitalDec 10, 2025MaintainsBuy
D. Boral CapitalDec 3, 2025MaintainsBuy
D. Boral CapitalNov 17, 2025MaintainsBuy

The case for and against

Updated Oct 21, 2026

Bull case

Clene is well positioned because its CNM-Au8 program now has a materially stronger regulatory narrative, supported by FDA feedback that NfL may serve as a surrogate endpoint and by an NDA submission built on HEALEY ALS, RESCUE-ALS, expanded access, and long-term survival data. The company’s post hoc analyses are compelling, with CNM-Au8 patients showing a 38% lower risk of death in one analysis and up to 73% to 77% reductions in the risk of death at one year in HEALEY ALS, alongside better ALSFRS-R, SVC, and CAFS outcomes. Continued NIH support of up to $8.0 million through August 2026 also adds non-dilutive funding and credibility, while the planned RESTORE-ALS confirmatory trial in 2Q27 and 1Q27 help frame a clear development path.

Bear case

Clene is viewed negatively because its valuation rests on a highly speculative clinical story, with only 15% probability of success assigned to CNM-Au8 in both ALS and MS and no value yet assigned to several pipeline expansion opportunities. Although biomarker data showed NfL and GFAP declines in HEALEY ALS and a 2.3-2.6-fold mortality risk increase for the worst NfL slopes, these results remain tied to small, post-hoc, or underpowered analyses, leaving the clinical significance and regulatory path uncertain. The stock is also exposed to substantial financing and execution risk, including failed or inconclusive trials, difficulty securing adequate funding, and dilutive capital raises while the company seeks an NDA submission in 3Q26.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.