Brokerages Expect Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Will Post Earnings of -$0.70 Per Share

Equities analysts forecast that Eledon Pharmaceuticals, Inc. (NASDAQ:ELDNGet Rating) will announce ($0.70) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Eledon Pharmaceuticals’ earnings, with estimates ranging from ($0.72) to ($0.67). Eledon Pharmaceuticals posted earnings of ($0.50) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 40%. The business is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Eledon Pharmaceuticals will report full year earnings of ($2.73) per share for the current year, with EPS estimates ranging from ($4.24) to ($2.00). For the next fiscal year, analysts anticipate that the company will report earnings of ($1.65) per share, with EPS estimates ranging from ($1.93) to ($1.34). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Eledon Pharmaceuticals.

Eledon Pharmaceuticals (NASDAQ:ELDNGet Rating) last announced its earnings results on Thursday, March 24th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.24.

Several brokerages have commented on ELDN. Cantor Fitzgerald restated an “overweight” rating on shares of Eledon Pharmaceuticals in a report on Tuesday, March 29th. Zacks Investment Research upgraded shares of Eledon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, January 25th. Finally, Lifesci Capital reiterated an “outperform” rating on shares of Eledon Pharmaceuticals in a report on Friday, March 25th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $29.00.

Several hedge funds and other institutional investors have recently bought and sold shares of ELDN. Morgan Stanley raised its holdings in shares of Eledon Pharmaceuticals by 7,235.6% in the second quarter. Morgan Stanley now owns 851,004 shares of the company’s stock valued at $6,732,000 after purchasing an additional 839,403 shares during the last quarter. BVF Inc. IL grew its stake in shares of Eledon Pharmaceuticals by 22.5% in the third quarter. BVF Inc. IL now owns 1,363,435 shares of the company’s stock valued at $8,426,000 after buying an additional 250,000 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Eledon Pharmaceuticals by 105.9% in the fourth quarter. Point72 Asset Management L.P. now owns 431,435 shares of the company’s stock valued at $1,903,000 after buying an additional 221,945 shares in the last quarter. Eversept Partners LP bought a new position in shares of Eledon Pharmaceuticals in the third quarter valued at $705,000. Finally, CM Management LLC boosted its position in Eledon Pharmaceuticals by 95.7% during the first quarter. CM Management LLC now owns 225,000 shares of the company’s stock worth $887,000 after purchasing an additional 110,000 shares during the period. Institutional investors own 71.41% of the company’s stock.

Shares of ELDN stock opened at $2.65 on Friday. The company’s 50 day moving average price is $3.26 and its two-hundred day moving average price is $4.02. Eledon Pharmaceuticals has a 52 week low of $2.27 and a 52 week high of $10.20.

About Eledon Pharmaceuticals (Get Rating)

Eledon Pharmaceuticals, Inc, clinical stage biopharmaceutical company, focuses on developing medicines for the patients living with autoimmune disease and amyotrophic lateral sclerosis (ALS), and requiring an organ or cell-based transplant. Its lead product candidate includes AT-1501, a humanized monoclonal antibody to target CD40 Ligand that is a molecule expressed on the surface of human immune system T cells, which is in Phase 2a clinical trials for the treatment of ALS, and Phase 2 clinical trials in islet cell transplantation for the treatment of type 1 diabetes.

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