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

Shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) have been given a consensus rating of “Hold” by the five analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $9.6667.

A number of equities analysts recently issued reports on the company. 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 restated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research note on Friday, March 27th.

Eledon Pharmaceuticals Price Performance

Shares of ELDN stock opened at $3.48 on Wednesday. The firm has a market capitalization of $268.62 million, a price-to-earnings ratio of -4.52 and a beta of 0.94. The business has a fifty day moving average of $3.62 and a 200 day moving average of $2.67. Eledon Pharmaceuticals has a 1 year low of $1.35 and a 1 year high of $4.60.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its 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, equities research analysts expect that Eledon Pharmaceuticals will post -0.74 earnings per share for the current year.

Hedge Funds Weigh In On Eledon Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of Eledon Pharmaceuticals during the 4th quarter valued at about $947,000. CM Management LLC raised its stake 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 buying an additional 225,000 shares during the last quarter. Blue Owl Capital Holdings LP raised its stake in shares of Eledon Pharmaceuticals by 96.9% during the 4th quarter. Blue Owl Capital Holdings LP now owns 1,929,912 shares of the company’s stock valued at $2,914,000 after buying an additional 950,000 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Eledon Pharmaceuticals during the 4th quarter valued at about $2,387,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Eledon Pharmaceuticals during the 2nd quarter valued at about $99,000. Hedge funds and other institutional investors own 56.77% of the company’s stock.

About Eledon Pharmaceuticals

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.