Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Given Average Recommendation of “Hold” by Analysts

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) has been given a consensus rating of “Hold” by the five analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $9.6667.

A number of equities research analysts have weighed in on the company. Wall Street Zen lowered Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a report on Friday, March 27th.

Institutional Investors Weigh In On Eledon Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Eledon Pharmaceuticals in the 4th quarter valued at approximately $947,000. CM Management LLC boosted its holdings in Eledon Pharmaceuticals by 60.0% in the 3rd quarter. CM Management LLC now owns 600,000 shares of the company’s stock valued at $1,554,000 after purchasing an additional 225,000 shares in the last quarter. Blue Owl Capital Holdings LP boosted its holdings in Eledon Pharmaceuticals by 96.9% in the 4th quarter. Blue Owl Capital Holdings LP now owns 1,929,912 shares of the company’s stock valued at $2,914,000 after purchasing an additional 950,000 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Eledon Pharmaceuticals in the 4th quarter valued at approximately $2,387,000. Finally, Daytona Street Capital LLC purchased a new stake in Eledon Pharmaceuticals in the 4th quarter valued at approximately $106,000. Hedge funds and other institutional investors own 56.77% of the company’s stock.

Eledon Pharmaceuticals Stock Down 0.8%

NASDAQ ELDN opened at $3.55 on Wednesday. Eledon Pharmaceuticals has a 52-week low of $1.35 and a 52-week high of $4.60. The business’s 50-day moving average price is $3.57 and its 200 day moving average price is $2.60. The firm has a market cap of $274.02 million, a P/E ratio of -4.61 and a beta of 0.94.

Eledon Pharmaceuticals (NASDAQ:ELDN) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). As a group, analysts anticipate that Eledon Pharmaceuticals will post -0.74 earnings per share for the current year.

About Eledon Pharmaceuticals

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.