HC Wainwright Reiterates Buy Rating for Eledon Pharmaceuticals (NASDAQ:ELDN)

Eledon Pharmaceuticals (NASDAQ:ELDNGet Rating)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Tuesday. They presently have a $25.00 price objective on the stock.

Other analysts have also issued reports about the stock. SVB Leerink lowered their target price on shares of Eledon Pharmaceuticals from $33.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, June 1st. Cantor Fitzgerald assumed 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.

Eledon Pharmaceuticals Stock Up 2.4 %

NASDAQ ELDN opened at $2.88 on Tuesday. The company has a fifty day moving average of $2.97 and a two-hundred day moving average of $3.31. The firm has a market capitalization of $39.62 million, a price-to-earnings ratio of -1.20 and a beta of 2.04. Eledon Pharmaceuticals has a 52 week low of $2.27 and a 52 week high of $8.49.

Eledon Pharmaceuticals (NASDAQ:ELDNGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.02). Equities research analysts anticipate that Eledon Pharmaceuticals will post -2.57 EPS for the current year.

Institutional Trading of Eledon Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ELDN. Renaissance Technologies LLC increased its holdings in Eledon Pharmaceuticals by 35.1% during the first quarter. Renaissance Technologies LLC now owns 18,473 shares of the company’s stock valued at $73,000 after buying an additional 4,800 shares during the period. Ameritas Advisory Services LLC purchased a new position in Eledon Pharmaceuticals during the fourth quarter valued at approximately $107,000. Bailard Inc. purchased a new position in Eledon Pharmaceuticals during the first quarter valued at approximately $109,000. State Street Corp increased its holdings in Eledon Pharmaceuticals by 10.5% during the first quarter. State Street Corp now owns 44,692 shares of the company’s stock valued at $176,000 after buying an additional 4,257 shares during the period. Finally, Ensign Peak Advisors Inc increased its holdings in Eledon Pharmaceuticals by 966.7% during the fourth quarter. Ensign Peak Advisors Inc now owns 77,100 shares of the company’s stock valued at $340,000 after buying an additional 69,872 shares during the period. Institutional investors own 71.41% of the company’s stock.

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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