Brokerages Set Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Price Target at $9.67

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) has been assigned an average rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts 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.

Eledon Pharmaceuticals Trading Up 13.7%

Shares of ELDN opened at $3.08 on Friday. Eledon Pharmaceuticals has a twelve month low of $1.35 and a twelve month high of $4.60. The firm’s fifty day simple moving average is $2.47 and its 200-day simple moving average is $2.36. The firm has a market capitalization of $233.62 million, a price-to-earnings ratio of -5.92 and a beta of 0.84.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its earnings results on Thursday, March 19th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.10. On average, analysts predict that Eledon Pharmaceuticals will post -0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eledon Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. ADAR1 Capital Management LLC acquired a new position in Eledon Pharmaceuticals in the fourth quarter valued at approximately $2,751,000. Jefferies Financial Group Inc. purchased a new stake in shares of Eledon Pharmaceuticals during the 4th quarter worth approximately $2,387,000. Ensign Peak Advisors Inc lifted its position in shares of Eledon Pharmaceuticals by 94.9% during the 4th quarter. Ensign Peak Advisors Inc now owns 2,464,919 shares of the company’s stock worth $3,722,000 after buying an additional 1,200,000 shares during the last quarter. AWM Investment Company Inc. acquired a new position in shares of Eledon Pharmaceuticals in the 4th quarter valued at $1,661,000. Finally, Sphera Funds Management LTD. boosted its holdings in shares of Eledon Pharmaceuticals by 97.4% in the 4th quarter. Sphera Funds Management LTD. now owns 2,132,131 shares of the company’s stock valued at $3,220,000 after buying an additional 1,051,898 shares in the last quarter. Hedge funds and other institutional investors own 56.77% of the company’s stock.

Eledon Pharmaceuticals Company Profile

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.