Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) had its target price boosted by stock analysts at HC Wainwright from $13.00 to $16.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock.
Eledon Pharmaceuticals Price Performance
Shares of NASDAQ ELDN traded down $0.18 during midday trading on Tuesday, reaching $2.26. The company's stock had a trading volume of 2,522,369 shares, compared to its average volume of 120,852. The stock has a market capitalization of $56.07 million, a P/E ratio of -1.23 and a beta of 0.86. The firm has a 50 day moving average price of $1.87 and a 200-day moving average price of $1.66. Eledon Pharmaceuticals has a 12-month low of $1.07 and a 12-month high of $2.95.
Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.29) EPS for the quarter, topping analysts' consensus estimates of ($0.38) by $0.09. On average, equities analysts predict that Eledon Pharmaceuticals will post -1.38 EPS for the current year.
Hedge Funds Weigh In On Eledon Pharmaceuticals
An institutional investor recently raised its position in Eledon Pharmaceuticals stock. Armistice Capital LLC boosted its position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 20.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,189,000 shares of the company's stock after buying an additional 365,000 shares during the quarter. Armistice Capital LLC owned approximately 9.05% of Eledon Pharmaceuticals worth $3,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 56.77% of the company's stock.
Eledon Pharmaceuticals Company Profile
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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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