Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Receives $10.00 Consensus PT from Analysts

Shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) have been given a consensus recommendation of “Hold” by the five research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $10.00.

ELDN has been the subject of a number of recent research reports. Craig Hallum initiated coverage on shares of Eledon Pharmaceuticals in a research note on Friday, July 25th. They issued a “buy” rating and a $12.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Eledon Pharmaceuticals in a research note on Tuesday, September 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Eledon Pharmaceuticals in a research note on Saturday, September 27th. Finally, Zacks Research downgraded shares of Eledon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th.

Eledon Pharmaceuticals Price Performance

Shares of ELDN opened at $2.84 on Friday. Eledon Pharmaceuticals has a 1-year low of $2.32 and a 1-year high of $5.54. The stock has a market cap of $170.06 million, a PE ratio of -2.43 and a beta of 0.40. The firm has a 50-day simple moving average of $2.69 and a two-hundred day simple moving average of $2.98.

Eledon Pharmaceuticals (NASDAQ:ELDN) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.10. As a group, sell-side analysts expect that Eledon Pharmaceuticals will post -0.81 earnings per share for the current fiscal year.

Institutional Trading of Eledon Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. First Light Asset Management LLC lifted its position in shares of Eledon Pharmaceuticals by 11.7% during the 2nd quarter. First Light Asset Management LLC now owns 2,600,498 shares of the company’s stock worth $7,047,000 after buying an additional 271,730 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Eledon Pharmaceuticals by 107.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,383,940 shares of the company’s stock worth $3,751,000 after buying an additional 717,223 shares during the last quarter. Zimmer Partners LP lifted its position in shares of Eledon Pharmaceuticals by 0.7% during the 1st quarter. Zimmer Partners LP now owns 754,970 shares of the company’s stock worth $2,559,000 after buying an additional 4,970 shares during the last quarter. Siren L.L.C. purchased a new stake in shares of Eledon Pharmaceuticals during the 1st quarter worth approximately $2,340,000. Finally, 22NW LP acquired a new position in shares of Eledon Pharmaceuticals in the 1st quarter valued at $2,157,000. Hedge funds and other institutional investors own 56.77% of the company’s stock.

Eledon Pharmaceuticals Company Profile

Eledon Pharmaceuticals, Inc operates as a clinical stage biotechnology company. The company uses its immunology expertise in targeting the CD40 Ligand (CD40L, also called CD154) pathway to develop therapies to protect transplanted organs and prevent rejection, and to treat amyotrophic lateral sclerosis (ALS).