Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) - Investment analysts at HC Wainwright issued their Q2 2024 earnings estimates for shares of Eledon Pharmaceuticals in a research note issued to investors on Tuesday, May 7th. HC Wainwright analyst V. Bernardino anticipates that the company will post earnings per share of ($0.32) for the quarter. HC Wainwright currently has a "Buy" rating and a $16.00 price target on the stock. The consensus estimate for Eledon Pharmaceuticals' current full-year earnings is ($1.38) per share. HC Wainwright also issued estimates for Eledon Pharmaceuticals' Q3 2024 earnings at ($0.30) EPS and Q4 2024 earnings at ($0.30) EPS.
Eledon Pharmaceuticals Price Performance
NASDAQ:ELDN traded down $0.04 during midday trading on Thursday, hitting $2.40. The company's stock had a trading volume of 170,571 shares, compared to its average volume of 124,671. Eledon Pharmaceuticals has a fifty-two week low of $1.07 and a fifty-two week high of $2.95. The firm's 50 day moving average is $1.89 and its 200-day moving average is $1.67. The firm has a market cap of $59.54 million, a P/E ratio of -1.27 and a beta of 0.86.
Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last announced its quarterly earnings data on Thursday, March 28th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.09.
Hedge Funds Weigh In On Eledon Pharmaceuticals
A hedge fund recently raised its stake in Eledon Pharmaceuticals stock. Armistice Capital LLC lifted its position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 20.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,189,000 shares of the company's stock after purchasing an additional 365,000 shares during the quarter. Armistice Capital LLC owned 9.05% of Eledon Pharmaceuticals worth $3,940,000 as of its most recent SEC filing. Institutional investors and hedge funds own 56.77% of the company's stock.
About Eledon Pharmaceuticals
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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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