Brokers Issue Forecasts for Eledon Pharmaceuticals, Inc.’s Q2 2024 Earnings (NASDAQ:ELDN)

Posted by Editorial Team on May 9th, 2024

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN – Free Report) – HC Wainwright issued their Q2 2024 EPS estimates for Eledon Pharmaceuticals in a research note issued on Tuesday, May 7th. HC Wainwright analyst V. Bernardino forecasts 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 (NASDAQ:ELDN – Get Free Report) last released its quarterly earnings data on Thursday, March 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.09.

Eledon Pharmaceuticals Stock Performance

Shares of ELDN stock opened at $2.44 on Thursday. The firm has a fifty day moving average of $1.89 and a 200-day moving average of $1.67. The stock has a market cap of $60.54 million, a price-to-earnings ratio of -1.36 and a beta of 0.86. Eledon Pharmaceuticals has a 52-week low of $1.07 and a 52-week high of $2.95.

Institutional Investors Weigh In On Eledon Pharmaceuticals

An institutional investor recently raised its position in Eledon Pharmaceuticals stock. Armistice Capital LLC increased its stake in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN – Free Report) by 20.0% in the 4th 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 buying an additional 365,000 shares during the quarter. Armistice Capital LLC owned 9.05% of Eledon Pharmaceuticals worth $3,940,000 at the end of the most recent reporting period. 56.77% of the stock is owned by institutional investors and hedge funds.

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).