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

Shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) have been given a consensus recommendation of “Hold” by the five brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $9.6667.

A number of equities research analysts have weighed in on the stock. Wall Street Zen lowered shares of Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research note on Friday, March 27th.

Institutional Investors Weigh In On Eledon Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in Eledon Pharmaceuticals by 143.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,154 shares of the company’s stock valued at $31,000 after buying an additional 7,166 shares during the last quarter. Barclays PLC raised its stake in Eledon Pharmaceuticals by 9.7% during the 4th quarter. Barclays PLC now owns 87,472 shares of the company’s stock valued at $132,000 after buying an additional 7,719 shares during the last quarter. Velan Capital Investment Management LP raised its stake in Eledon Pharmaceuticals by 2.4% during the 3rd quarter. Velan Capital Investment Management LP now owns 346,973 shares of the company’s stock valued at $899,000 after buying an additional 8,000 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Eledon Pharmaceuticals by 1.3% during the 1st quarter. SG Americas Securities LLC now owns 635,845 shares of the company’s stock valued at $1,958,000 after acquiring an additional 8,453 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Eledon Pharmaceuticals by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 173,131 shares of the company’s stock valued at $261,000 after acquiring an additional 10,289 shares during the period. 56.77% of the stock is currently owned by hedge funds and other institutional investors.

Eledon Pharmaceuticals Stock Performance

Shares of ELDN opened at $3.57 on Wednesday. The firm has a market cap of $275.57 million, a PE ratio of -4.64 and a beta of 0.94. The firm has a fifty day simple moving average of $3.61 and a two-hundred day simple moving average of $2.64. 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 earnings results on Wednesday, May 13th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). As a group, research analysts forecast that Eledon Pharmaceuticals will post -0.74 EPS for the current fiscal year.

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.