Eledon Pharmaceuticals (NASDAQ:ELDN) Rating Increased to Buy at HC Wainwright

Eledon Pharmaceuticals (NASDAQ:ELDN) was upgraded by equities research analysts at HC Wainwright to a “buy” rating in a research report issued on Wednesday, Marketbeat.com reports. The firm presently has a $9.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 223.74% from the stock’s previous close. HC Wainwright also issued estimates for Eledon Pharmaceuticals’ Q1 2026 earnings at ($0.32) EPS, Q2 2026 earnings at ($0.32) EPS, Q3 2026 earnings at ($0.29) EPS and Q4 2026 earnings at ($0.27) EPS.

Separately, Wall Street Zen cut Eledon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, June 6th.

Eledon Pharmaceuticals Stock Down 1.1%

Shares of NASDAQ:ELDN opened at $2.78 on Wednesday. The business’s 50 day moving average is $3.04 and its 200 day moving average is $3.72. Eledon Pharmaceuticals has a 12-month low of $2.30 and a 12-month high of $5.54. The stock has a market cap of $166.47 million, a price-to-earnings ratio of -1.32 and a beta of -0.17.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.20. As a group, equities research analysts expect that Eledon Pharmaceuticals will post -0.81 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in Eledon Pharmaceuticals by 418.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,944 shares of the company’s stock worth $33,000 after purchasing an additional 6,412 shares during the last quarter. CW Advisors LLC bought a new stake in shares of Eledon Pharmaceuticals in the first quarter valued at $34,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Eledon Pharmaceuticals in the first quarter valued at $41,000. Alpine Global Management LLC bought a new stake in shares of Eledon Pharmaceuticals in the fourth quarter valued at $56,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Eledon Pharmaceuticals in the fourth quarter valued at $66,000. Hedge funds and other institutional investors own 56.77% of the company’s stock.

Eledon Pharmaceuticals Company Profile

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).