Piper Sandler Initiates Coverage on Elevation Oncology (NASDAQ:ELEV)

Equities researchers at Piper Sandler assumed coverage on shares of Elevation Oncology (NASDAQ:ELEVGet Free Report) in a research note issued on Friday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $10.00 price target on the stock. Piper Sandler’s price objective indicates a potential upside of 148.76% from the company’s current price.

Other equities analysts have also issued research reports about the stock. JMP Securities restated a “market outperform” rating and set a $7.00 target price on shares of Elevation Oncology in a report on Thursday, March 7th. Stephens began coverage on shares of Elevation Oncology in a report on Tuesday, May 14th. They set an “overweight” rating and a $8.00 target price on the stock. Wedbush restated an “outperform” rating and set a $8.00 target price on shares of Elevation Oncology in a report on Friday, May 3rd. Finally, HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Elevation Oncology in a report on Tuesday, April 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Elevation Oncology has an average rating of “Buy” and an average price target of $7.80.

Check Out Our Latest Stock Report on Elevation Oncology

Elevation Oncology Stock Down 1.2 %

Shares of NASDAQ ELEV opened at $4.02 on Friday. Elevation Oncology has a 52-week low of $0.36 and a 52-week high of $5.83. The firm has a fifty day moving average of $4.14 and a 200-day moving average of $2.85. The stock has a market capitalization of $219.65 million, a PE ratio of -3.87 and a beta of 1.52. The company has a quick ratio of 46.22, a current ratio of 46.22 and a debt-to-equity ratio of 0.41.

Elevation Oncology (NASDAQ:ELEVGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). On average, analysts anticipate that Elevation Oncology will post -0.89 EPS for the current year.

Hedge Funds Weigh In On Elevation Oncology

A number of institutional investors have recently added to or reduced their stakes in ELEV. SG Americas Securities LLC acquired a new position in Elevation Oncology in the 1st quarter worth $63,000. Affinity Asset Advisors LLC acquired a new position in Elevation Oncology in the 1st quarter worth $6,509,000. Artal Group S.A. acquired a new position in Elevation Oncology in the 1st quarter worth $7,762,000. Vanguard Group Inc. lifted its holdings in Elevation Oncology by 30.8% in the 1st quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock worth $7,859,000 after buying an additional 360,799 shares in the last quarter. Finally, Darwin Global Management Ltd. acquired a new position in Elevation Oncology in the 1st quarter worth $11,968,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

About Elevation Oncology

(Get Free Report)

Elevation Oncology, Inc, an oncology company, focuses on the discovery and development of cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs. The company's lead candidate is EO-3021, an antibody-drug conjugate designed to target Claudin 18.2, a clinically validated molecular target.

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Analyst Recommendations for Elevation Oncology (NASDAQ:ELEV)

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