Research Analysts Set Expectations for ELEV FY2024 Earnings

Elevation Oncology, Inc. (NASDAQ:ELEV) – Equities research analysts at Leerink Partnrs lifted their FY2024 earnings per share (EPS) estimates for Elevation Oncology in a research note issued on Wednesday, November 6th. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings of ($0.85) per share for the year, up from their prior estimate of ($0.86). The consensus estimate for Elevation Oncology’s current full-year earnings is ($0.82) per share. Leerink Partnrs also issued estimates for Elevation Oncology’s Q4 2024 earnings at ($0.23) EPS, FY2025 earnings at ($0.79) EPS, FY2026 earnings at ($0.84) EPS and FY2027 earnings at ($1.04) EPS.

Elevation Oncology (NASDAQ:ELEV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02).

A number of other analysts have also recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price objective on shares of Elevation Oncology in a research report on Monday, July 15th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Elevation Oncology in a research report on Wednesday, August 7th. Finally, Wedbush restated an “outperform” rating and set a $8.00 price objective on shares of Elevation Oncology in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Elevation Oncology currently has an average rating of “Buy” and an average target price of $7.80.

Elevation Oncology Trading Up 12.6 %

NASDAQ ELEV opened at $0.65 on Monday. Elevation Oncology has a one year low of $0.36 and a one year high of $5.83. The firm has a market cap of $38.42 million, a PE ratio of -0.79 and a beta of 1.24. The firm’s fifty day moving average is $0.59 and its two-hundred day moving average is $1.95. The company has a debt-to-equity ratio of 0.38, a quick ratio of 41.10 and a current ratio of 41.10.

Hedge Funds Weigh In On Elevation Oncology

A number of institutional investors and hedge funds have recently made changes to their positions in ELEV. GSA Capital Partners LLP purchased a new stake in Elevation Oncology during the third quarter worth about $260,000. SG Americas Securities LLC acquired a new stake in shares of Elevation Oncology during the 3rd quarter valued at approximately $28,000. Frazier Life Sciences Management L.P. purchased a new stake in shares of Elevation Oncology during the 2nd quarter worth approximately $7,988,000. Affinity Asset Advisors LLC grew its holdings in shares of Elevation Oncology by 15.8% in the 2nd quarter. Affinity Asset Advisors LLC now owns 1,468,825 shares of the company’s stock worth $3,966,000 after acquiring an additional 200,000 shares during the period. Finally, Logos Global Management LP increased its stake in Elevation Oncology by 285.0% in the 2nd quarter. Logos Global Management LP now owns 3,850,000 shares of the company’s stock valued at $10,395,000 after purchasing an additional 2,850,000 shares in the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

Elevation Oncology Company Profile

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.