Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Eledon Pharmaceuticals has received a consensus rating of "Moderate Buy" from four brokerages, with one hold and three buy ratings.
• The average 12-month target price for the stock is $10.00, according to analysts' updates over the last year.
• Institutional investors own 56.77% of Eledon Pharmaceuticals' stock, reflecting growing interest from large investors.

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Get Free Report) has earned an average rating of "Moderate Buy" from the four brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $10.00.

Several equities research analysts have recently weighed in on the company. Craig Hallum assumed coverage on Eledon Pharmaceuticals in a report on Friday, July 25th. They issued a "buy" rating and a $12.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $9.00 price objective on shares of Eledon Pharmaceuticals in a report on Tuesday, September 2nd. Zacks Research downgraded Eledon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Wall Street Zen cut Eledon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Eledon Pharmaceuticals in a research note on Saturday, September 27th.

Eledon Pharmaceuticals Price Performance

Shares of Eledon Pharmaceuticals stock traded up $0.08 on Friday, reaching $2.84. 1,010,872 shares of the company were exchanged, compared to its average volume of 497,051. Eledon Pharmaceuticals has a 1-year low of $2.32 and a 1-year high of $5.54. The company has a market cap of $170.06 million, a P/E ratio of -2.43 and a beta of 0.40. The stock's 50 day moving average price is $2.71 and its 200-day moving average price is $2.99.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.10. On average, research analysts predict that Eledon Pharmaceuticals will post -0.81 earnings per share for the current fiscal year.

Institutional Trading of Eledon Pharmaceuticals

Large investors have recently bought and sold shares of the company. Ground Swell Capital LLC acquired a new stake in Eledon Pharmaceuticals in the second quarter valued at $31,000. ProShare Advisors LLC acquired a new stake in shares of Eledon Pharmaceuticals during the second quarter valued at $33,000. CW Advisors LLC acquired a new stake in shares of Eledon Pharmaceuticals during the first quarter valued at $34,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Eledon Pharmaceuticals during the second quarter valued at $37,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Eledon Pharmaceuticals during the first quarter valued at $41,000. Institutional investors and hedge funds 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).

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