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

HC Wainwright reissued their buy rating on shares of Eledon Pharmaceuticals (NASDAQ:ELDN) in a research note released on Wednesday,Benzinga reports. The brokerage currently has a $16.00 price target 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 %

Shares of ELDN stock opened at $4.01 on Wednesday. The stock has a market cap of $159.04 million, a PE 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 business has a 50-day simple moving average of $3.40 and a 200-day simple moving average of $2.94.

Eledon Pharmaceuticals (NASDAQ:ELDN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Sell-side analysts anticipate that Eledon Pharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Eledon Pharmaceuticals by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 378,058 shares of the company’s stock worth $942,000 after acquiring an additional 33,569 shares in the last quarter. Clarity Capital Partners LLC acquired a new position in Eledon Pharmaceuticals in the 3rd quarter worth about $29,000. Nantahala Capital Management LLC purchased a new position in Eledon Pharmaceuticals during the second quarter worth approximately $1,584,000. Armistice Capital LLC grew its holdings in Eledon Pharmaceuticals by 1.7% in 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 during the period. Finally, Renaissance Technologies LLC increased its position in shares of 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 buying an additional 49,704 shares in the last quarter. Hedge funds and other 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).