HC Wainwright Has Negative Outlook for ELDN Q4 Earnings

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) – Investment analysts at HC Wainwright cut their Q4 2024 earnings per share (EPS) estimates for Eledon Pharmaceuticals in a report issued on Wednesday, November 20th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings per share of ($0.32) for the quarter, down from their prior forecast of ($0.22). HC Wainwright has a “Buy” rating and a $16.00 price target on the stock. The consensus estimate for Eledon Pharmaceuticals’ current full-year earnings is ($0.63) per share. HC Wainwright also issued estimates for Eledon Pharmaceuticals’ FY2025 earnings at ($0.91) EPS.

Eledon Pharmaceuticals Price Performance

ELDN opened at $4.01 on Friday. The company has a market capitalization of $239.55 million, a P/E ratio of -2.00 and a beta of 0.76. The firm’s fifty day moving average price is $3.40 and its two-hundred day moving average price is $2.95. Eledon Pharmaceuticals has a fifty-two week low of $1.11 and a fifty-two week high of $5.54.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC boosted its holdings in Eledon Pharmaceuticals by 1.7% during the second quarter. Armistice Capital LLC now owns 2,336,000 shares of the company’s stock valued at $6,167,000 after purchasing an additional 39,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Eledon Pharmaceuticals by 39.4% during the 1st quarter. Vanguard Group Inc. now owns 969,121 shares of the company’s stock worth $1,996,000 after buying an additional 273,703 shares during the period. Nantahala Capital Management LLC acquired a new stake in Eledon Pharmaceuticals in the 2nd quarter valued at $1,584,000. Geode Capital Management LLC grew 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 acquiring an additional 33,569 shares during the period. Finally, Renaissance Technologies LLC grew its position in Eledon Pharmaceuticals by 57.1% in the second quarter. Renaissance Technologies LLC now owns 136,773 shares of the company’s stock valued at $361,000 after acquiring an additional 49,704 shares during the period. Institutional investors and hedge funds own 56.77% of the company’s stock.

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).