Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Receives Consensus Recommendation of “Hold” from Analysts

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) has received an average recommendation of “Hold” from the five brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $9.6667.

A number of equities analysts have weighed in on ELDN shares. Wall Street Zen lowered Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research note on Wednesday, June 24th.

Eledon Pharmaceuticals Price Performance

Shares of Eledon Pharmaceuticals stock opened at $4.13 on Friday. The stock has a market cap of $318.79 million, a P/E ratio of -5.36 and a beta of 0.95. The stock’s 50 day simple moving average is $3.78 and its 200-day simple moving average is $2.95. Eledon Pharmaceuticals has a 1-year low of $1.35 and a 1-year high of $4.60.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). As a group, research analysts expect that Eledon Pharmaceuticals will post -0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Eledon Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ELDN. BNP Paribas Financial Markets boosted its holdings in Eledon Pharmaceuticals by 143.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,154 shares of the company’s stock valued at $31,000 after purchasing an additional 7,166 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Eledon Pharmaceuticals during the 4th quarter worth approximately $36,000. Relyea Zuckerberg Hanson LLC purchased a new stake in shares of Eledon Pharmaceuticals during the 1st quarter valued at approximately $37,000. Waverly Advisors LLC purchased a new stake in shares of Eledon Pharmaceuticals during the 1st quarter valued at approximately $39,000. Finally, Virtu Financial LLC acquired a new position in Eledon Pharmaceuticals in the fourth quarter valued at approximately $39,000. 56.77% of the stock is currently owned by institutional investors and hedge funds.

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.