Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Receives $9.67 Consensus Price Target from Analysts

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) has been given an average rating of “Hold” by the five analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $9.6667.

Several equities research analysts have issued reports on ELDN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research note on Friday, March 27th. Wall Street Zen lowered Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday.

Institutional Investors Weigh In On Eledon Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ELDN. ADAR1 Capital Management LLC bought a new stake in shares of Eledon Pharmaceuticals in the 4th quarter valued at about $2,751,000. Jefferies Financial Group Inc. bought a new stake in shares of Eledon Pharmaceuticals in the 4th quarter valued at about $2,387,000. Ensign Peak Advisors Inc lifted its stake in shares of Eledon Pharmaceuticals by 94.9% in the 4th quarter. Ensign Peak Advisors Inc now owns 2,464,919 shares of the company’s stock valued at $3,722,000 after acquiring an additional 1,200,000 shares during the last quarter. AWM Investment Company Inc. bought a new stake in shares of Eledon Pharmaceuticals in the 4th quarter valued at about $1,661,000. Finally, Sphera Funds Management LTD. lifted its stake in shares of Eledon Pharmaceuticals by 97.4% in the 4th quarter. Sphera Funds Management LTD. now owns 2,132,131 shares of the company’s stock valued at $3,220,000 after acquiring an additional 1,051,898 shares during the last quarter. Institutional investors own 56.77% of the company’s stock.

Eledon Pharmaceuticals Stock Down 5.8%

Shares of ELDN stock opened at $3.58 on Friday. The business has a 50-day moving average price of $3.30 and a two-hundred day moving average price of $2.51. Eledon Pharmaceuticals has a 12-month low of $1.35 and a 12-month high of $4.60. The firm has a market cap of $276.34 million, a P/E ratio of -4.65 and a beta of 0.94.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.11). As a group, research analysts expect that Eledon Pharmaceuticals will post -1.11 EPS 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.