Investment analysts at HC Wainwright began coverage on shares of Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) in a report issued on Wednesday, MarketBeat reports. The firm set a "buy" rating and a $9.00 price target on the stock. HC Wainwright's target price points to a potential upside of 220.28% from the stock's current price.
Separately, Wall Street Zen downgraded Eledon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Friday, June 6th.
Get Our Latest Stock Report on ELDN
Eledon Pharmaceuticals Trading Up 0.4%
NASDAQ:ELDN opened at $2.81 on Wednesday. The firm's fifty day simple moving average is $3.05 and its 200 day simple moving average is $3.73. Eledon Pharmaceuticals has a twelve month low of $2.30 and a twelve month high of $5.54. The firm has a market capitalization of $168.26 million, a price-to-earnings ratio of -1.34 and a beta of -0.17.
Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.20. On average, analysts predict that Eledon Pharmaceuticals will post -0.81 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in ELDN. Zimmer Partners LP increased its stake in Eledon Pharmaceuticals by 0.7% during the 1st quarter. Zimmer Partners LP now owns 754,970 shares of the company's stock worth $2,559,000 after buying an additional 4,970 shares during the period. Tower Research Capital LLC TRC boosted its position in Eledon Pharmaceuticals by 418.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,944 shares of the company's stock valued at $33,000 after buying an additional 6,412 shares during the last quarter. CW Advisors LLC acquired a new stake in shares of Eledon Pharmaceuticals during the first quarter valued at about $34,000. Renaissance Technologies LLC grew its stake in shares of Eledon Pharmaceuticals by 8.3% during the fourth quarter. Renaissance Technologies LLC now owns 147,173 shares of the company's stock valued at $606,000 after acquiring an additional 11,300 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Eledon Pharmaceuticals during the first quarter worth about $41,000. 56.77% of the stock is currently owned by hedge funds and other institutional investors.
About Eledon Pharmaceuticals
(
Get Free Report)
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).
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