Eledon Pharmaceuticals (NASDAQ:ELDN) Research Coverage Started at Rodman & Renshaw

Rodman & Renshaw initiated coverage on shares of Eledon Pharmaceuticals (NASDAQ:ELDN) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $12.00 price target on the stock.

ELDN has been the topic of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.25.

Eledon Pharmaceuticals Price Performance

Shares of NASDAQ:ELDN opened at $3.74 on Tuesday. The company has a market capitalization of $288.69 million, a price-to-earnings ratio of -4.86 and a beta of 0.95. The firm’s 50 day simple moving average is $3.80 and its 200 day simple moving average is $3.11. Eledon Pharmaceuticals has a fifty-two week low of $1.35 and a fifty-two week high of $4.60.

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

Institutional Trading of Eledon Pharmaceuticals

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Eledon Pharmaceuticals in the fourth quarter worth $947,000. Catalio Capital Management LP grew its position in Eledon Pharmaceuticals by 18.7% in the fourth quarter. Catalio Capital Management LP now owns 1,259,820 shares of the company’s stock valued at $1,902,000 after purchasing an additional 198,688 shares in the last quarter. Blue Owl Capital Holdings LP grew its position in Eledon Pharmaceuticals by 96.9% in the fourth 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. acquired a new stake in Eledon Pharmaceuticals in the 4th quarter valued at $2,387,000. Finally, Daytona Street Capital LLC acquired a new stake in Eledon Pharmaceuticals in the 4th quarter valued at $106,000. 56.77% of the stock is currently owned by institutional investors.

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.