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 research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $9.6667.

Several equities research analysts have recently issued reports on ELDN shares. Wall Street Zen lowered shares of Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research note on Friday, March 27th.

Institutional Investors Weigh In On Eledon Pharmaceuticals

Several large investors have recently modified their holdings of ELDN. BNP Paribas Financial Markets increased its stake in shares of Eledon Pharmaceuticals by 143.7% during 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 during the last quarter. Millennium Management LLC purchased a new stake in shares of Eledon Pharmaceuticals during the 4th quarter worth approximately $36,000. Relyea Zuckerberg Hanson LLC purchased a new stake in shares of Eledon Pharmaceuticals during the 1st quarter worth approximately $37,000. Waverly Advisors LLC purchased a new stake in shares of Eledon Pharmaceuticals during the 1st quarter worth approximately $39,000. Finally, Virtu Financial LLC purchased a new stake in shares of Eledon Pharmaceuticals during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 56.77% of the company’s stock.

Eledon Pharmaceuticals Stock Performance

NASDAQ:ELDN opened at $3.57 on Wednesday. The firm has a market cap of $275.57 million, a price-to-earnings ratio of -4.64 and a beta of 0.94. Eledon Pharmaceuticals has a 52 week low of $1.35 and a 52 week high of $4.60. The firm has a 50-day moving average price of $3.61 and a two-hundred day moving average price of $2.65.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). As a group, sell-side analysts forecast that Eledon Pharmaceuticals will post -0.74 earnings per share for the current 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.