Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analyst consensus: Five brokerages covering Eledon give an average recommendation of "Hold" (1 sell, 1 hold, 3 buy) with a 12‑month average target of $9.67, while Weiss Ratings separately reaffirmed a "sell (d-)."
• Share price and fundamentals: ELDN opened at $2.96 (12‑month range $1.35–$4.60) with a market cap of about $224.5M and a negative P/E; the company beat quarterly EPS estimates (‑$0.10 vs. ‑$0.20) but analysts expect a full‑year loss of about $0.81 per share.
• Institutional interest: Roughly 56.8% of the stock is institutionally owned, and several funds including CM Management and Catalio Capital materially increased their stakes in recent quarters.

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Get Free Report) has received an average recommendation of "Hold" from the five brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $9.6667.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eledon Pharmaceuticals in a research report on Monday, December 29th.

Eledon Pharmaceuticals Stock Up 1.4%

NASDAQ:ELDN opened at $2.96 on Friday. Eledon Pharmaceuticals has a twelve month low of $1.35 and a twelve month high of $4.60. The firm has a market capitalization of $224.52 million, a price-to-earnings ratio of -5.69 and a beta of 0.84. The stock's 50 day moving average price is $2.42 and its two-hundred day moving average price is $2.35.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.10. As a group, analysts anticipate that Eledon Pharmaceuticals will post -0.81 earnings per share for the current year.

Institutional Investors Weigh In On Eledon Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ELDN. CM Management LLC grew its holdings in Eledon Pharmaceuticals by 60.0% during the third quarter. CM Management LLC now owns 600,000 shares of the company's stock worth $1,554,000 after purchasing an additional 225,000 shares during the period. Millennium Management LLC bought a new stake in Eledon Pharmaceuticals in the fourth quarter valued at approximately $36,000. Rockefeller Capital Management L.P. lifted its position in shares of Eledon Pharmaceuticals by 95.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 71,666 shares of the company's stock valued at $108,000 after buying an additional 35,000 shares during the last quarter. Kera Capital Partners Inc. lifted its position in shares of Eledon Pharmaceuticals by 54.3% in the fourth quarter. Kera Capital Partners Inc. now owns 39,770 shares of the company's stock valued at $60,000 after buying an additional 14,000 shares during the last quarter. Finally, Catalio Capital Management LP boosted its stake in shares of Eledon Pharmaceuticals by 18.7% during the 4th quarter. Catalio Capital Management LP now owns 1,259,820 shares of the company's stock worth $1,902,000 after acquiring an additional 198,688 shares during the period. 56.77% of the stock is owned by institutional investors.

Eledon Pharmaceuticals Company Profile

Eledon Pharmaceuticals, Inc NASDAQ: ELDN is a clinical-stage biopharmaceutical company focused on the discovery and development of therapies for diseases characterized by smooth muscle dysfunction. The company leverages a proprietary ion-channel modulation platform to identify and optimize small-molecule compounds that can either restore or inhibit smooth muscle activity, with the goal of addressing gastrointestinal, hepatic and cardiovascular disorders.

Eledon's pipeline comprises several preclinical and early-phase clinical programs targeting high-unmet-need indications.

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