Eledon Pharmaceuticals (NASDAQ:ELDN) PT Lowered to $26.00 at SVB Leerink

Eledon Pharmaceuticals (NASDAQ:ELDNGet Rating) had its target price cut by stock analysts at SVB Leerink from $33.00 to $26.00 in a research note issued on Wednesday, Stock Target Advisor reports. The brokerage currently has an “outperform” rating on the stock.

A number of other brokerages also recently issued reports on ELDN. Cantor Fitzgerald started coverage on shares of Eledon Pharmaceuticals in a research report on Friday, May 13th. They issued an “overweight” rating and a $15.00 price objective for the company. Zacks Investment Research downgraded shares of Eledon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, May 24th. Finally, Lifesci Capital reissued an “outperform” rating on shares of Eledon Pharmaceuticals in a research report on Friday, March 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Eledon Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $22.00.

Shares of NASDAQ:ELDN traded down $0.10 during mid-day trading on Wednesday, reaching $3.09. 78 shares of the company’s stock were exchanged, compared to its average volume of 25,100. The firm has a market capitalization of $42.52 million, a price-to-earnings ratio of -1.27 and a beta of 1.94. The business’s fifty day moving average price is $3.22 and its 200-day moving average price is $3.87. Eledon Pharmaceuticals has a twelve month low of $2.27 and a twelve month high of $9.75.

Eledon Pharmaceuticals (NASDAQ:ELDNGet Rating) last released its earnings results on Thursday, March 24th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.24. Sell-side analysts anticipate that Eledon Pharmaceuticals will post -2.59 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. lifted its stake in Eledon Pharmaceuticals by 11.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 209,490 shares of the company’s stock worth $1,295,000 after purchasing an additional 20,800 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Eledon Pharmaceuticals in the 3rd quarter worth approximately $103,000. Two Sigma Advisers LP lifted its stake in Eledon Pharmaceuticals by 48.0% in the 3rd quarter. Two Sigma Advisers LP now owns 115,900 shares of the company’s stock worth $716,000 after purchasing an additional 37,600 shares in the last quarter. Eversept Partners LP purchased a new stake in Eledon Pharmaceuticals in the 3rd quarter worth approximately $705,000. Finally, BVF Inc. IL lifted its stake in Eledon Pharmaceuticals by 22.5% in the 3rd quarter. BVF Inc. IL now owns 1,363,435 shares of the company’s stock worth $8,426,000 after purchasing an additional 250,000 shares in the last quarter. Institutional investors own 71.41% of the company’s stock.

Eledon Pharmaceuticals Company Profile (Get Rating)

Eledon Pharmaceuticals, Inc, clinical stage biopharmaceutical company, focuses on developing medicines for the patients living with autoimmune disease and amyotrophic lateral sclerosis (ALS), and requiring an organ or cell-based transplant. Its lead product candidate includes AT-1501, a humanized monoclonal antibody to target CD40 Ligand that is a molecule expressed on the surface of human immune system T cells, which is in Phase 2a clinical trials for the treatment of ALS, and Phase 2 clinical trials in islet cell transplantation for the treatment of type 1 diabetes.

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