Analysts Set Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Price Target at $9.67

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) has received a consensus rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One equities 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 12-month target price among brokers that have updated their coverage on the stock in the last year is $9.6667.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research report on Friday, March 27th.

Eledon Pharmaceuticals Price Performance

Shares of ELDN stock opened at $3.46 on Tuesday. The stock has a market cap of $262.44 million, a P/E ratio of -6.65 and a beta of 0.83. Eledon Pharmaceuticals has a one year low of $1.35 and a one year high of $4.60. The stock has a fifty day moving average price of $2.95 and a 200 day moving average price of $2.46.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its earnings results on Thursday, March 19th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.10. Equities research analysts anticipate that Eledon Pharmaceuticals will post -1.11 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its holdings in shares of Eledon Pharmaceuticals by 143.7% during the third quarter. BNP Paribas Financial Markets now owns 12,154 shares of the company’s stock valued at $31,000 after acquiring an additional 7,166 shares during the period. Millennium Management LLC bought a new position in shares of Eledon Pharmaceuticals during the fourth quarter valued at $36,000. Virtu Financial LLC bought a new position in shares of Eledon Pharmaceuticals during the fourth quarter valued at $39,000. Cetera Investment Advisers lifted its holdings in shares of Eledon Pharmaceuticals by 72.9% during the fourth quarter. Cetera Investment Advisers now owns 26,584 shares of the company’s stock valued at $40,000 after acquiring an additional 11,207 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Eledon Pharmaceuticals during the fourth quarter valued at $45,000. 56.77% of the stock is owned by institutional investors.

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.