Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Receives $10.00 Consensus Target Price from Analysts

Shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) have received an average rating of “Hold” from the five research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $10.00.

A number of research firms have issued reports on ELDN. Craig Hallum began coverage on shares of Eledon Pharmaceuticals in a research report on Friday, July 25th. They set a “buy” rating and a $12.00 target price on the stock. Zacks Research downgraded shares of Eledon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Eledon Pharmaceuticals in a research report on Tuesday, September 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Eledon Pharmaceuticals in a research report on Wednesday, October 8th.

Eledon Pharmaceuticals Stock Up 2.4%

Shares of NASDAQ:ELDN opened at $4.35 on Tuesday. Eledon Pharmaceuticals has a 12 month low of $2.32 and a 12 month high of $5.54. The company’s 50-day moving average price is $2.84 and its two-hundred day moving average price is $2.99. The firm has a market cap of $260.48 million, a P/E ratio of -3.72 and a beta of 0.40.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.10. As a group, equities analysts predict that Eledon Pharmaceuticals will post -0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ELDN. Ground Swell Capital LLC acquired a new position in Eledon Pharmaceuticals during the 2nd quarter valued at about $31,000. ProShare Advisors LLC acquired a new stake in shares of Eledon Pharmaceuticals in the 2nd quarter valued at approximately $33,000. CW Advisors LLC acquired a new stake in shares of Eledon Pharmaceuticals in the 1st quarter valued at approximately $34,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Eledon Pharmaceuticals in the 2nd quarter valued at approximately $37,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Eledon Pharmaceuticals in the 1st quarter valued at approximately $41,000. 56.77% of the stock is currently owned by institutional investors and hedge funds.

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).