HC Wainwright Raises Eledon Pharmaceuticals (NASDAQ:ELDN) Price Target to $16.00

Eledon Pharmaceuticals (NASDAQ:ELDN) had its price target upped by HC Wainwright from $13.00 to $16.00 in a research report report published on Tuesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Eledon Pharmaceuticals Price Performance

NASDAQ ELDN opened at $2.26 on Tuesday. The business’s 50-day moving average is $1.87 and its 200 day moving average is $1.66. The stock has a market capitalization of $56.07 million, a PE ratio of -1.26 and a beta of 0.86. Eledon Pharmaceuticals has a 1 year low of $1.07 and a 1 year high of $2.95.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its quarterly earnings data on Thursday, March 28th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.09. As a group, equities research analysts anticipate that Eledon Pharmaceuticals will post -1.38 earnings per share for the current year.

Institutional Trading of Eledon Pharmaceuticals

A hedge fund recently raised its stake in Eledon Pharmaceuticals stock. Armistice Capital LLC raised its position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 20.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,189,000 shares of the company’s stock after acquiring an additional 365,000 shares during the quarter. Armistice Capital LLC owned approximately 9.05% of Eledon Pharmaceuticals worth $3,940,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 56.77% of the company’s stock.

About Eledon Pharmaceuticals

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).