ELDN FY2024 EPS Estimate Raised by Cantor Fitzgerald

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) – Equities research analysts at Cantor Fitzgerald boosted their FY2024 earnings per share (EPS) estimates for Eledon Pharmaceuticals in a report released on Wednesday, November 13th. Cantor Fitzgerald analyst P. Stavropoulos now expects that the company will post earnings per share of ($0.28) for the year, up from their previous forecast of ($1.14). The consensus estimate for Eledon Pharmaceuticals’ current full-year earnings is ($0.72) per share.

Eledon Pharmaceuticals Stock Performance

Shares of ELDN stock opened at $3.88 on Monday. The firm’s 50 day moving average price is $3.31 and its two-hundred day moving average price is $2.92. The stock has a market cap of $153.87 million, a PE ratio of -1.93 and a beta of 0.76. Eledon Pharmaceuticals has a 52-week low of $1.11 and a 52-week high of $5.54.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02).

Institutional Investors Weigh In On Eledon Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Clarity Capital Partners LLC acquired a new position in Eledon Pharmaceuticals in the third quarter valued at about $29,000. Dimensional Fund Advisors LP acquired a new stake in shares of Eledon Pharmaceuticals in the 2nd quarter valued at approximately $80,000. Marco Investment Management LLC boosted its stake in Eledon Pharmaceuticals by 22.3% during the 2nd quarter. Marco Investment Management LLC now owns 30,344 shares of the company’s stock worth $80,000 after acquiring an additional 5,535 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Eledon Pharmaceuticals by 57.1% during the second quarter. Renaissance Technologies LLC now owns 136,773 shares of the company’s stock valued at $361,000 after purchasing an additional 49,704 shares during the period. Finally, CM Management LLC increased its stake in Eledon Pharmaceuticals by 14.3% in the first quarter. CM Management LLC now owns 160,000 shares of the company’s stock valued at $330,000 after purchasing an additional 20,000 shares in the last quarter. 56.77% of the stock is owned by institutional investors and hedge funds.

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).