Eledon Pharmaceuticals, Inc. Expected to Post Q2 2024 Earnings of ($0.32) Per Share (NASDAQ:ELDN)

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) – Research analysts at HC Wainwright issued their Q2 2024 EPS estimates for shares of Eledon Pharmaceuticals in a note issued to investors on Tuesday, May 7th. HC Wainwright analyst V. Bernardino forecasts that the company will post earnings of ($0.32) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $16.00 target price on the stock. The consensus estimate for Eledon Pharmaceuticals’ current full-year earnings is ($1.38) per share. HC Wainwright also issued estimates for Eledon Pharmaceuticals’ Q3 2024 earnings at ($0.30) EPS and Q4 2024 earnings at ($0.30) EPS.

Eledon Pharmaceuticals (NASDAQ:ELDN) last released its quarterly earnings data on Thursday, March 28th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.09.

Eledon Pharmaceuticals Stock Down 1.6 %

Shares of ELDN stock opened at $2.40 on Thursday. The stock has a market cap of $59.54 million, a price-to-earnings ratio of -1.34 and a beta of 0.86. The firm’s 50 day moving average price is $1.90 and its two-hundred day moving average price is $1.68. Eledon Pharmaceuticals has a fifty-two week low of $1.07 and a fifty-two week high of $2.95.

Hedge Funds Weigh In On Eledon Pharmaceuticals

A hedge fund recently raised its stake in Eledon Pharmaceuticals stock. Armistice Capital LLC raised its holdings in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 20.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,189,000 shares of the company’s stock after purchasing an additional 365,000 shares during the period. Armistice Capital LLC owned about 9.05% of Eledon Pharmaceuticals worth $3,940,000 as of its most recent SEC filing. 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).