Eledon Pharmaceuticals (NASDAQ:ELDN) Earns "Sell (D)" Rating from Weiss Ratings

Key Points

• Eledon Pharmaceuticals received a "Sell (D)" rating from Weiss Ratings, reaffirmed in a research note issued to investors.
• Analyst ratings for Eledon include three "Buy" ratings, one "Hold," and one "Sell," resulting in a consensus rating of "Hold" with an average target price of $10.00.
• In recent trading, Eledon Pharmaceuticals saw its stock price open at $3.48, while institutional investors now own approximately 56.77% of the company's shares.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

ELDN has been the subject of several other reports. Craig Hallum started coverage on Eledon Pharmaceuticals in a research note on Friday, July 25th. They set a "buy" rating and a $12.00 price objective for the company. HC Wainwright restated a "buy" rating and issued a $9.00 price target on shares of Eledon Pharmaceuticals in a research report on Tuesday, September 2nd. Finally, Zacks Research lowered Eledon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $10.00.

Eledon Pharmaceuticals Trading Up 5.8%

NASDAQ:ELDN opened at $3.48 on Friday. Eledon Pharmaceuticals has a 12 month low of $2.32 and a 12 month high of $5.54. The stock has a 50 day moving average of $2.72 and a two-hundred day moving average of $2.96. The firm has a market cap of $208.38 million, a P/E ratio of -2.97 and a beta of 0.40.

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

Institutional Trading of Eledon Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd acquired a new position in Eledon Pharmaceuticals in the first quarter valued at about $41,000. Wellington Management Group LLP purchased a new stake in shares of Eledon Pharmaceuticals in the 1st quarter valued at approximately $639,000. CW Advisors LLC acquired a new position in shares of Eledon Pharmaceuticals in the 1st quarter worth approximately $34,000. 22NW LP acquired a new position in shares of Eledon Pharmaceuticals in the 1st quarter worth approximately $2,157,000. Finally, Siren L.L.C. purchased a new position in shares of Eledon Pharmaceuticals during the 1st quarter worth approximately $2,340,000. 56.77% of the stock is currently owned by hedge funds and other institutional investors.

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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