Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Receives $9.67 Average Target Price from Brokerages

Shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) have been assigned an average rating of “Hold” from the five analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $9.6667.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a report on Friday, March 27th.

Institutional Trading of Eledon Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in Eledon Pharmaceuticals by 143.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,154 shares of the company’s stock worth $31,000 after purchasing an additional 7,166 shares in the last quarter. Barclays PLC lifted its stake in Eledon Pharmaceuticals by 9.7% in the 4th quarter. Barclays PLC now owns 87,472 shares of the company’s stock worth $132,000 after purchasing an additional 7,719 shares in the last quarter. Velan Capital Investment Management LP lifted its stake in Eledon Pharmaceuticals by 2.4% in the 3rd quarter. Velan Capital Investment Management LP now owns 346,973 shares of the company’s stock worth $899,000 after purchasing an additional 8,000 shares in the last quarter. SG Americas Securities LLC lifted its stake in Eledon Pharmaceuticals by 1.3% in the 1st quarter. SG Americas Securities LLC now owns 635,845 shares of the company’s stock worth $1,958,000 after purchasing an additional 8,453 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Eledon Pharmaceuticals by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 173,131 shares of the company’s stock worth $261,000 after purchasing an additional 10,289 shares in the last quarter. 56.77% of the stock is currently owned by hedge funds and other institutional investors.

Eledon Pharmaceuticals Trading Down 10.0%

ELDN opened at $3.59 on Tuesday. The company has a 50 day moving average of $2.89 and a 200 day moving average of $2.46. The company has a market cap of $272.30 million, a PE ratio of -6.90 and a beta of 0.83. Eledon Pharmaceuticals has a 12 month low of $1.35 and a 12 month high of $4.60.

Eledon Pharmaceuticals (NASDAQ:ELDN) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.10. Research analysts forecast that Eledon Pharmaceuticals will post -1.11 earnings per share for the current fiscal year.

About Eledon Pharmaceuticals

Eledon Pharmaceuticals, Inc (NASDAQ:ELDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of therapies for diseases characterized by smooth muscle dysfunction. The company leverages a proprietary ion-channel modulation platform to identify and optimize small-molecule compounds that can either restore or inhibit smooth muscle activity, with the goal of addressing gastrointestinal, hepatic and cardiovascular disorders.

Eledon’s pipeline comprises several preclinical and early-phase clinical programs targeting high-unmet-need indications.