What is HC Wainwright’s Forecast for ELEV FY2029 Earnings?

Elevation Oncology, Inc. (NASDAQ:ELEV) – Stock analysts at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for shares of Elevation Oncology in a research report issued to clients and investors on Friday, March 21st. HC Wainwright analyst S. Ramakanth forecasts that the company will earn ($0.40) per share for the year. HC Wainwright has a “Buy” rating and a $1.00 price target on the stock. The consensus estimate for Elevation Oncology’s current full-year earnings is ($0.84) per share.

Other analysts have also issued reports about the stock. Wedbush lowered shares of Elevation Oncology from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Leerink Partnrs cut Elevation Oncology from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Stephens reissued an “equal weight” rating and set a $1.00 target price (down from $5.00) on shares of Elevation Oncology in a research note on Monday. Piper Sandler downgraded Elevation Oncology from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $10.00 to $0.70 in a report on Friday, March 21st. Finally, Citizens Jmp cut shares of Elevation Oncology from an “outperform” rating to a “market perform” rating in a report on Friday, March 21st. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Elevation Oncology has an average rating of “Hold” and a consensus price target of $3.39.

Elevation Oncology Trading Down 2.4 %

Shares of ELEV opened at $0.28 on Monday. The stock has a market capitalization of $16.76 million, a P/E ratio of -0.35 and a beta of 1.37. Elevation Oncology has a twelve month low of $0.24 and a twelve month high of $5.83. The company has a quick ratio of 17.77, a current ratio of 17.77 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $0.58 and a two-hundred day simple moving average of $0.59.

Elevation Oncology (NASDAQ:ELEV) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04.

Institutional Investors Weigh In On Elevation Oncology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Velan Capital Investment Management LP purchased a new position in Elevation Oncology during the fourth quarter valued at $25,000. Two Sigma Advisers LP increased its stake in shares of Elevation Oncology by 47.8% in the 4th quarter. Two Sigma Advisers LP now owns 84,400 shares of the company’s stock worth $47,000 after acquiring an additional 27,300 shares in the last quarter. Stonepine Capital Management LLC purchased a new position in Elevation Oncology during the 4th quarter valued at about $113,000. Millennium Management LLC grew its holdings in Elevation Oncology by 3.9% in the fourth quarter. Millennium Management LLC now owns 815,916 shares of the company’s stock worth $459,000 after purchasing an additional 30,466 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Elevation Oncology by 550.5% during the fourth quarter. Deutsche Bank AG now owns 188,771 shares of the company’s stock valued at $106,000 after purchasing an additional 159,751 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Elevation Oncology Company Profile

Elevation Oncology, Inc, an oncology company, focuses on the discovery and development of cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs. The company's lead candidate is EO-3021, an antibody-drug conjugate designed to target Claudin 18.2, a clinically validated molecular target.