Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN – Get Rating) – Investment analysts at SVB Leerink increased their FY2022 earnings per share (EPS) estimates for Eledon Pharmaceuticals in a research note issued on Wednesday, June 1st. SVB Leerink analyst T. Smith now expects that the company will post earnings of ($2.81) per share for the year, up from their previous forecast of ($2.91). SVB Leerink has a “Outperform” rating and a $26.00 price target on the stock. SVB Leerink also issued estimates for Eledon Pharmaceuticals’ Q4 2022 earnings at ($0.64) EPS, FY2023 earnings at ($1.70) EPS, FY2024 earnings at ($1.71) EPS, FY2025 earnings at ($2.03) EPS and FY2026 earnings at ($2.38) EPS.
ELDN has been the subject of several other research reports. Zacks Investment Research raised shares of Eledon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday. Lifesci Capital reaffirmed an “outperform” rating on shares of Eledon Pharmaceuticals in a research note on Friday, March 25th. Finally, Cantor Fitzgerald initiated coverage on shares of Eledon Pharmaceuticals in a research note on Friday, May 13th. They set an “overweight” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $22.00.
Eledon Pharmaceuticals (NASDAQ:ELDN – Get Rating) last issued its quarterly earnings data on Thursday, March 24th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.24.
A number of hedge funds and other institutional investors have recently made changes to their positions in ELDN. Morgan Stanley bought a new position in Eledon Pharmaceuticals during the first quarter worth $124,000. Millennium Management LLC raised its stake in Eledon Pharmaceuticals by 23.3% during the second quarter. Millennium Management LLC now owns 17,993 shares of the company’s stock worth $142,000 after buying an additional 3,405 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Eledon Pharmaceuticals during the third quarter worth $103,000. Geode Capital Management LLC raised its stake in Eledon Pharmaceuticals by 2.4% during the third quarter. Geode Capital Management LLC now owns 127,558 shares of the company’s stock worth $788,000 after buying an additional 2,944 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Eledon Pharmaceuticals by 87.9% in the third quarter. Renaissance Technologies LLC now owns 39,663 shares of the company’s stock worth $245,000 after purchasing an additional 18,556 shares during the period. 71.41% of the stock is owned by institutional investors and hedge funds.
About Eledon Pharmaceuticals (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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