Eledon Pharmaceuticals’ (ELDN) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Eledon Pharmaceuticals (NASDAQ:ELDN) in a report released on Wednesday,Benzinga reports. They currently have a $16.00 price objective 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 Stock Down 1.5 %

NASDAQ:ELDN opened at $4.01 on Wednesday. The stock has a market cap of $239.55 million, a price-to-earnings ratio of -2.00 and a beta of 0.76. Eledon Pharmaceuticals has a 52 week low of $1.11 and a 52 week high of $5.54. The company’s 50 day moving average price is $3.40 and its 200-day moving average price is $2.95.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its earnings results 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). As a group, sell-side analysts anticipate that Eledon Pharmaceuticals will post -0.63 earnings per share for the current year.

Hedge Funds Weigh In On Eledon Pharmaceuticals

Several institutional investors have recently made changes to their positions in the business. Clarity Capital Partners LLC bought a new stake in Eledon Pharmaceuticals during the third quarter valued at approximately $29,000. Dimensional Fund Advisors LP purchased a new position in shares of Eledon Pharmaceuticals during the 2nd quarter worth $80,000. Marco Investment Management LLC grew its position in shares of Eledon Pharmaceuticals by 22.3% during the 2nd quarter. Marco Investment Management LLC now owns 30,344 shares of the company’s stock valued at $80,000 after acquiring an additional 5,535 shares during the period. Renaissance Technologies LLC increased its stake in shares of Eledon Pharmaceuticals by 57.1% in the 2nd quarter. Renaissance Technologies LLC now owns 136,773 shares of the company’s stock worth $361,000 after purchasing an additional 49,704 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Eledon Pharmaceuticals by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 378,058 shares of the company’s stock worth $942,000 after purchasing an additional 33,569 shares in the last quarter. Institutional investors 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).