Eledon Pharmaceuticals’ (ELDN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Eledon Pharmaceuticals (NASDAQ:ELDN) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $16.00 target price on the stock. HC Wainwright also issued estimates for Eledon Pharmaceuticals’ Q4 2024 earnings at ($0.32) EPS and FY2025 earnings at ($0.91) EPS.

Eledon Pharmaceuticals Price Performance

Shares of NASDAQ:ELDN opened at $4.01 on Wednesday. The business’s 50-day moving average is $3.40 and its 200 day moving average is $2.94. Eledon Pharmaceuticals has a 1 year low of $1.11 and a 1 year high of $5.54. The firm has a market capitalization of $159.04 million, a P/E ratio of -2.00 and a beta of 0.76.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). On average, analysts expect that Eledon Pharmaceuticals will post -0.72 EPS for the current year.

Institutional Investors Weigh In On Eledon Pharmaceuticals

A number of large investors have recently made changes to their positions in ELDN. Clarity Capital Partners LLC purchased a new position in Eledon Pharmaceuticals in the 3rd quarter worth $29,000. Dimensional Fund Advisors LP acquired a new position in shares of Eledon Pharmaceuticals in the second quarter valued at about $80,000. Marco Investment Management LLC raised its stake in shares of Eledon Pharmaceuticals by 22.3% in the second quarter. Marco Investment Management LLC now owns 30,344 shares of the company’s stock worth $80,000 after purchasing an additional 5,535 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Eledon Pharmaceuticals by 57.1% during the second quarter. Renaissance Technologies LLC now owns 136,773 shares of the company’s stock worth $361,000 after purchasing an additional 49,704 shares during the period. Finally, Geode Capital Management LLC boosted its position in Eledon Pharmaceuticals by 9.7% in the third quarter. Geode Capital Management LLC now owns 378,058 shares of the company’s stock valued at $942,000 after buying an additional 33,569 shares during the last quarter. 56.77% of the stock is owned by hedge funds and other institutional investors.

Eledon Pharmaceuticals Company Profile

Eledon Pharmaceuticals, Inc operates as a clinical stage biotechnology company. The company uses its immunology expertise in targeting the CD40 Ligand (CD40L, also called CD154) pathway to develop therapies to protect transplanted organs and prevent rejection, and to treat amyotrophic lateral sclerosis (ALS).