Equities Analysts Offer Predictions for ELEV FY2024 Earnings

Elevation Oncology, Inc. (NASDAQ:ELEV) – Equities research analysts at Wedbush lowered their FY2024 EPS estimates for Elevation Oncology in a report released on Wednesday, November 6th. Wedbush analyst R. Driscoll now anticipates that the company will earn ($0.86) per share for the year, down from their previous forecast of ($0.81). Wedbush has a “Outperform” rating and a $8.00 price objective on the stock. The consensus estimate for Elevation Oncology’s current full-year earnings is ($0.84) per share. Wedbush also issued estimates for Elevation Oncology’s Q4 2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.27) EPS, Q2 2025 earnings at ($0.29) EPS, Q3 2025 earnings at ($0.19) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.91) EPS, FY2026 earnings at ($0.58) EPS, FY2027 earnings at ($0.61) EPS and FY2028 earnings at ($0.45) EPS.

A number of other equities analysts have also issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $7.00 target price on shares of Elevation Oncology in a research report on Monday, July 15th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Elevation Oncology in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $7.80.

Elevation Oncology Stock Performance

Shares of ELEV stock opened at $0.67 on Monday. Elevation Oncology has a 1 year low of $0.36 and a 1 year high of $5.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 41.10 and a current ratio of 17.77. The firm has a market cap of $39.61 million, a price-to-earnings ratio of -0.82 and a beta of 1.24. The stock’s 50-day moving average is $0.58 and its two-hundred day moving average is $1.93.

Elevation Oncology (NASDAQ:ELEV) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.02).

Institutional Investors Weigh In On Elevation Oncology

Several institutional investors have recently modified their holdings of the company. Farallon Capital Management LLC acquired a new position in Elevation Oncology during the first quarter worth $19,939,000. Logos Global Management LP increased its position in shares of Elevation Oncology by 285.0% in the second quarter. Logos Global Management LP now owns 3,850,000 shares of the company’s stock valued at $10,395,000 after buying an additional 2,850,000 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new position in shares of Elevation Oncology during the 2nd quarter worth $7,988,000. Darwin Global Management Ltd. purchased a new stake in shares of Elevation Oncology in the 1st quarter worth about $11,968,000. Finally, Vanguard Group Inc. boosted its position in shares of Elevation Oncology by 30.8% in the 1st quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock worth $7,859,000 after buying an additional 360,799 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.