Zacks: Analysts Expect Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) to Announce -$0.58 EPS

Analysts predict that Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) will announce ($0.58) earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Eledon Pharmaceuticals’ earnings. The highest EPS estimate is ($0.54) and the lowest is ($0.65). Eledon Pharmaceuticals reported earnings per share of ($2.70) during the same quarter last year, which indicates a positive year-over-year growth rate of 78.5%. The company is scheduled to report its next earnings report on Friday, August 13th.

According to Zacks, analysts expect that Eledon Pharmaceuticals will report full-year earnings of ($2.18) per share for the current financial year, with EPS estimates ranging from ($2.67) to ($1.07). For the next fiscal year, analysts forecast that the firm will report earnings of ($1.44) per share, with EPS estimates ranging from ($3.40) to $1.51. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Eledon Pharmaceuticals.

Eledon Pharmaceuticals (NASDAQ:ELDN) last released its earnings results on Thursday, May 13th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.20).

Several equities research analysts recently commented on the company. Lifesci Capital reaffirmed an “outperform” rating on shares of Eledon Pharmaceuticals in a research report on Thursday, March 18th. Cantor Fitzgerald assumed coverage on Eledon Pharmaceuticals in a research report on Monday, March 22nd. They set an “overweight” rating and a $25.00 price objective on the stock. Zacks Investment Research cut Eledon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, April 2nd. Finally, SVB Leerink dropped their price objective on Eledon Pharmaceuticals from $34.00 to $33.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 27th.

A number of hedge funds have recently bought and sold shares of the business. Logos Global Management LP bought a new position in Eledon Pharmaceuticals in the first quarter valued at about $2,398,000. BVF Inc. IL bought a new position in Eledon Pharmaceuticals in the first quarter valued at about $11,914,000. Millennium Management LLC bought a new position in Eledon Pharmaceuticals in the first quarter valued at about $156,000. Point72 Asset Management L.P. bought a new position in Eledon Pharmaceuticals in the first quarter valued at about $1,338,000. Finally, Morgan Stanley bought a new position in Eledon Pharmaceuticals in the first quarter valued at about $124,000. 58.16% of the stock is currently owned by institutional investors.

NASDAQ ELDN opened at $8.66 on Tuesday. Eledon Pharmaceuticals has a 12 month low of $6.16 and a 12 month high of $27.32. The stock has a market capitalization of $123.90 million, a PE ratio of -0.80 and a beta of 1.83. The business has a fifty day moving average of $9.85.

Eledon Pharmaceuticals Company Profile

Eledon Pharmaceuticals, Inc, clinical stage biopharmaceutical company, focuses on developing medicines for the patients living with autoimmune disease and amyotrophic lateral sclerosis (ALS), and requiring an organ or cell-based transplant. Its lead product candidate includes AT-1501, a humanized monoclonal antibody to target CD40 Ligand that is a molecule expressed on the surface of human immune system T cells, which is in Phase 2a clinical trials for the treatment of ALS, and Phase 2 clinical trials in islet cell transplantation for the treatment of type 1 diabetes.

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