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

Key Points

• Analysts' consensus is "Hold": five firms covering Eledon gave a consensus Hold rating (1 sell, 1 hold, 3 buy) with an average 12‑month price target of about $9.67, while Weiss Ratings reiterated a "sell (d-)" opinion.
• Market snapshot: ELDN opened at $4.14, has a market cap of ~$314 million, a negative PE of -7.96, a 12‑month range of $1.35–$4.60, and 50‑/200‑day SMAs of $2.78 and $2.43 respectively.
• Recent performance and ownership: Eledon reported ($0.10) EPS for the quarter, beating estimates of ($0.20), analysts forecast ~-1.11 EPS for the year, and several hedge funds have materially increased stakes—institutions own about 56.77% of the stock.

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $9.6667.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Eledon Pharmaceuticals in a report on Friday, March 27th.

Eledon Pharmaceuticals Trading Up 4.0%

NASDAQ ELDN opened at $4.14 on Tuesday. The stock has a market cap of $314.02 million, a PE ratio of -7.96 and a beta of 0.83. Eledon Pharmaceuticals has a twelve month low of $1.35 and a twelve month high of $4.60. The stock has a fifty day simple moving average of $2.78 and a 200-day simple moving average of $2.43.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.10. Research analysts predict that Eledon Pharmaceuticals will post -1.11 EPS for the current year.

Hedge Funds Weigh In On Eledon Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC lifted its stake in Eledon Pharmaceuticals by 11.7% during the 2nd quarter. First Light Asset Management LLC now owns 2,600,498 shares of the company's stock worth $7,047,000 after acquiring an additional 271,730 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in Eledon Pharmaceuticals by 94.9% during the 4th quarter. Ensign Peak Advisors Inc now owns 2,464,919 shares of the company's stock worth $3,722,000 after acquiring an additional 1,200,000 shares in the last quarter. Zimmer Partners LP lifted its stake in Eledon Pharmaceuticals by 30.6% during the 4th quarter. Zimmer Partners LP now owns 2,384,228 shares of the company's stock worth $3,600,000 after acquiring an additional 559,228 shares in the last quarter. Sphera Funds Management LTD. increased its holdings in Eledon Pharmaceuticals by 97.4% during the 4th quarter. Sphera Funds Management LTD. now owns 2,132,131 shares of the company's stock worth $3,220,000 after purchasing an additional 1,051,898 shares during the period. Finally, Blue Owl Capital Holdings LP increased its holdings in Eledon Pharmaceuticals by 96.9% during the 4th quarter. Blue Owl Capital Holdings LP now owns 1,929,912 shares of the company's stock worth $2,914,000 after purchasing an additional 950,000 shares during the period. Institutional investors and hedge funds own 56.77% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.