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

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

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

Eledon Pharmaceuticals Trading Up 2.3%

Shares of Eledon Pharmaceuticals stock opened at $3.07 on Friday. The company has a market cap of $232.86 million, a PE ratio of -5.90 and a beta of 0.83. The company has a 50 day moving average of $2.50 and a 200-day moving average of $2.37. Eledon Pharmaceuticals has a 1-year low of $1.35 and a 1-year high of $4.60.

Eledon Pharmaceuticals (NASDAQ:ELDN) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.10. Research analysts forecast that Eledon Pharmaceuticals will post -0.81 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CM Management LLC grew its holdings 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 purchasing an additional 225,000 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Eledon Pharmaceuticals during the 2nd quarter worth approximately $75,000. Bank of America Corp DE lifted its stake in Eledon Pharmaceuticals by 261.8% in the 2nd quarter. Bank of America Corp DE now owns 25,367 shares of the company’s stock valued at $69,000 after purchasing an additional 18,355 shares during the last quarter. Marshall Wace LLP acquired a new stake in Eledon Pharmaceuticals in the fourth quarter valued at approximately $45,000. Finally, Cetera Investment Advisers boosted its position in Eledon Pharmaceuticals by 72.9% in the fourth quarter. Cetera Investment Advisers now owns 26,584 shares of the company’s stock valued at $40,000 after buying an additional 11,207 shares in the last quarter. 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.