Elicio Therapeutics (NASDAQ:ELTX) Earns Buy Rating from Analysts at LADENBURG THALM/SH SH

Key Points

• LADENBURG THALM/SH SH initiated coverage on Elicio Therapeutics (NASDAQ:ELTX) with a "Buy" rating and a $20 price target, implying about a 70.5% upside from the prior close.
• The analyst landscape is mixed but leans positive: one "Strong Buy," two "Buy" and one "Sell," resulting in a MarketBeat consensus of "Moderate Buy" and an average price target of $18.
• ELTX shares opened at $11.73 (up ~8.2%), market cap roughly $216M; the company reported a quarterly loss (EPS -$0.49 vs. -$0.47 expected) and has a high debt-to-equity ratio (~5.75).

Analysts at LADENBURG THALM/SH SH assumed coverage on shares of Elicio Therapeutics (NASDAQ:ELTX - Get Free Report) in a note issued to investors on Wednesday. The firm set a "buy" rating and a $20.00 price target on the stock. LADENBURG THALM/SH SH's price objective indicates a potential upside of 70.50% from the company's previous close.

Other analysts have also recently issued reports about the stock. Rodman & Renshaw raised shares of Elicio Therapeutics to a "strong-buy" rating in a report on Tuesday, March 10th. HC Wainwright boosted their price objective on shares of Elicio Therapeutics from $13.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, March 13th. Wall Street Zen upgraded Elicio Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Elicio Therapeutics in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Elicio Therapeutics Stock Up 8.2%

ELTX stock opened at $11.73 on Wednesday. The company has a market cap of $215.83 million, a price-to-earnings ratio of -4.48 and a beta of 1.11. The company has a debt-to-equity ratio of 5.75, a quick ratio of 2.38 and a current ratio of 2.38. The business's 50-day moving average is $10.49 and its two-hundred day moving average is $9.44. Elicio Therapeutics has a fifty-two week low of $4.70 and a fifty-two week high of $14.93.

Elicio Therapeutics (NASDAQ:ELTX - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.02). As a group, analysts forecast that Elicio Therapeutics will post -3.89 earnings per share for the current year.

Hedge Funds Weigh In On Elicio Therapeutics

A number of large investors have recently bought and sold shares of ELTX. Bank of America Corp DE grew its position in shares of Elicio Therapeutics by 186.8% during the 3rd quarter. Bank of America Corp DE now owns 3,585 shares of the company's stock worth $39,000 after buying an additional 2,335 shares in the last quarter. Raymond James Financial Inc. bought a new position in Elicio Therapeutics in the second quarter worth approximately $46,000. Summit Financial LLC purchased a new stake in shares of Elicio Therapeutics during the 4th quarter worth $80,000. HighTower Advisors LLC bought a new stake in Elicio Therapeutics during the fourth quarter valued at about $89,000. Finally, Jane Street Group LLC bought a new position in Elicio Therapeutics in the first quarter worth about $92,000. Hedge funds and other institutional investors own 35.03% of the company's stock.

About Elicio Therapeutics

Angion Biomedica Corp. is a late-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of novel small molecule therapeutics to address acute organ injuries and fibrotic diseases. Angion Biomedica Corp. is based in UNIONDALE, N.Y.

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