SVB Leerink Cuts Eledon Pharmaceuticals (NASDAQ:ELDN) Price Target to $26.00

Eledon Pharmaceuticals (NASDAQ:ELDNGet Rating) had its price objective lowered by SVB Leerink from $33.00 to $26.00 in a research report released on Wednesday morning, Stock Target Advisor reports. SVB Leerink currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald started coverage on shares of Eledon Pharmaceuticals in a research note on Friday, May 13th. They set an overweight rating and a $15.00 target price on the stock. Zacks Investment Research lowered shares of Eledon Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, May 24th. Finally, Lifesci Capital restated an outperform rating on shares of Eledon Pharmaceuticals in a research report on Friday, March 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Buy and an average price target of $22.00.

Shares of ELDN stock traded down $0.10 during trading hours on Wednesday, reaching $3.09. The stock had a trading volume of 78 shares, compared to its average volume of 25,100. Eledon Pharmaceuticals has a twelve month low of $2.27 and a twelve month high of $9.75. The firm has a 50-day simple moving average of $3.22 and a 200-day simple moving average of $3.87. The firm has a market capitalization of $42.52 million, a PE ratio of -1.27 and a beta of 1.94.

Eledon Pharmaceuticals (NASDAQ:ELDNGet Rating) last released its earnings results on Thursday, March 24th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.24. Analysts predict that Eledon Pharmaceuticals will post -2.59 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Morgan Stanley acquired a new stake in shares of Eledon Pharmaceuticals during the first quarter worth approximately $124,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Eledon Pharmaceuticals during the third quarter worth approximately $103,000. Millennium Management LLC boosted its holdings in shares of Eledon Pharmaceuticals by 23.3% during the second quarter. Millennium Management LLC now owns 17,993 shares of the company’s stock worth $142,000 after purchasing an additional 3,405 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Eledon Pharmaceuticals by 35.1% during the first quarter. Renaissance Technologies LLC now owns 18,473 shares of the company’s stock worth $73,000 after purchasing an additional 4,800 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Eledon Pharmaceuticals during the fourth quarter worth approximately $107,000. Institutional investors and hedge funds own 71.41% of the company’s stock.

Eledon Pharmaceuticals Company Profile (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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