Eledon Pharmaceuticals’ (ELDN) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Eledon Pharmaceuticals (NASDAQ:ELDNFree Report) in a report released on Tuesday, Benzinga reports. The firm currently has a $16.00 target price on the stock.

Eledon Pharmaceuticals Stock Performance

Eledon Pharmaceuticals stock opened at $2.78 on Tuesday. The firm has a market capitalization of $68.97 million, a price-to-earnings ratio of -2.05 and a beta of 0.75. Eledon Pharmaceuticals has a fifty-two week low of $1.07 and a fifty-two week high of $3.35. The stock’s fifty day moving average is $2.28 and its two-hundred day moving average is $1.87.

Eledon Pharmaceuticals (NASDAQ:ELDNGet Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.03. As a group, sell-side analysts forecast that Eledon Pharmaceuticals will post -1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Eledon Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. CM Management LLC raised its holdings in shares of Eledon Pharmaceuticals by 14.3% in the first quarter. CM Management LLC now owns 160,000 shares of the company’s stock worth $330,000 after acquiring an additional 20,000 shares during the last quarter. Vanguard Group Inc. increased its position in Eledon Pharmaceuticals by 39.4% during the 1st quarter. Vanguard Group Inc. now owns 969,121 shares of the company’s stock worth $1,996,000 after purchasing an additional 273,703 shares in the last quarter. Finally, Armistice Capital LLC raised its stake in Eledon Pharmaceuticals by 20.0% in the 4th quarter. Armistice Capital LLC now owns 2,189,000 shares of the company’s stock valued at $3,940,000 after purchasing an additional 365,000 shares during the last quarter. Institutional investors and hedge funds own 56.77% of the company’s stock.

Eledon Pharmaceuticals Company Profile

(Get Free Report)

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).

Further Reading

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