Cantor Fitzgerald Analysts Boost Earnings Estimates for Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) – Stock analysts at Cantor Fitzgerald lifted their FY2023 earnings estimates for Eledon Pharmaceuticals in a research report issued on Monday, November 13th. Cantor Fitzgerald analyst P. Stavropoulos now forecasts that the company will post earnings per share of ($1.74) for the year, up from their previous forecast of ($1.83). Cantor Fitzgerald has a “Overweight” rating and a $9.00 price objective on the stock. The consensus estimate for Eledon Pharmaceuticals’ current full-year earnings is ($1.94) per share. Cantor Fitzgerald also issued estimates for Eledon Pharmaceuticals’ FY2024 earnings at ($1.14) EPS.

Other equities analysts have also issued reports about the stock. HC Wainwright reiterated a “buy” rating and set a $13.00 target price on shares of Eledon Pharmaceuticals in a report on Monday. Noble Financial began coverage on shares of Eledon Pharmaceuticals in a report on Wednesday, September 27th. They set an “outperform” rating and a $10.00 target price for the company.

Eledon Pharmaceuticals Price Performance

Shares of ELDN opened at $1.25 on Thursday. The company has a 50-day simple moving average of $1.35 and a two-hundred day simple moving average of $1.55. Eledon Pharmaceuticals has a one year low of $1.07 and a one year high of $3.70. The firm has a market capitalization of $30.25 million, a PE ratio of -0.22 and a beta of 1.82.

Institutional Investors Weigh In On Eledon Pharmaceuticals

A number of hedge funds have recently modified their holdings of ELDN. Veritable L.P. bought a new stake in shares of Eledon Pharmaceuticals during the 1st quarter valued at $31,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Eledon Pharmaceuticals during the 1st quarter valued at $35,000. Dimensional Fund Advisors LP bought a new position in Eledon Pharmaceuticals in the 3rd quarter worth $50,000. Renaissance Technologies LLC boosted its holdings in Eledon Pharmaceuticals by 35.1% in the 1st quarter. Renaissance Technologies LLC now owns 18,473 shares of the company’s stock worth $73,000 after buying an additional 4,800 shares during the period. Finally, SVB Financial Group bought a new position in Eledon Pharmaceuticals in the 4th quarter worth $93,000. Institutional investors own 39.40% 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).