Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Receives Average Rating of “Hold” from Brokerages

Shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) have been assigned an average recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $9.6667.

A number of analysts recently issued reports on ELDN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research note on Friday, March 27th. Wall Street Zen downgraded Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th.

Hedge Funds Weigh In On Eledon Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Eledon Pharmaceuticals in the 4th quarter worth about $947,000. CM Management LLC boosted its position in shares of Eledon Pharmaceuticals by 60.0% during the 3rd quarter. CM Management LLC now owns 600,000 shares of the company’s stock valued at $1,554,000 after acquiring an additional 225,000 shares during the last quarter. Daytona Street Capital LLC purchased a new position in shares of Eledon Pharmaceuticals during the fourth quarter worth about $106,000. Rockefeller Capital Management L.P. increased its position in shares of Eledon Pharmaceuticals by 95.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 71,666 shares of the company’s stock worth $108,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Kestra Private Wealth Services LLC bought a new position in shares of Eledon Pharmaceuticals in the first quarter worth approximately $77,000. Hedge funds and other institutional investors own 56.77% of the company’s stock.

Eledon Pharmaceuticals Price Performance

ELDN opened at $3.89 on Friday. The firm has a 50-day moving average price of $3.38 and a 200-day moving average price of $2.51. Eledon Pharmaceuticals has a twelve month low of $1.35 and a twelve month high of $4.60. The company has a market capitalization of $300.27 million, a price-to-earnings ratio of -5.05 and a beta of 0.94.

Eledon Pharmaceuticals (NASDAQ:ELDN) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). On average, sell-side analysts expect that Eledon Pharmaceuticals will post -1.11 earnings per share for the current fiscal year.

Eledon Pharmaceuticals Company Profile

Eledon Pharmaceuticals, Inc (NASDAQ:ELDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of therapies for diseases characterized by smooth muscle dysfunction. The company leverages a proprietary ion-channel modulation platform to identify and optimize small-molecule compounds that can either restore or inhibit smooth muscle activity, with the goal of addressing gastrointestinal, hepatic and cardiovascular disorders.

Eledon’s pipeline comprises several preclinical and early-phase clinical programs targeting high-unmet-need indications.