FY2024 EPS Estimates for ELDN Boosted by Cantor Fitzgerald

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) – Analysts at Cantor Fitzgerald upped their FY2024 earnings per share estimates for Eledon Pharmaceuticals in a note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst P. Stavropoulos now forecasts that the company will post earnings per share of ($0.28) for the year, up from their previous forecast of ($1.14). The consensus estimate for Eledon Pharmaceuticals’ current full-year earnings is ($0.72) per share.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02).

Eledon Pharmaceuticals Trading Down 3.1 %

Shares of ELDN opened at $4.00 on Monday. The stock’s 50 day moving average is $3.26 and its two-hundred day moving average is $2.90. Eledon Pharmaceuticals has a twelve month low of $1.11 and a twelve month high of $5.54. The firm has a market capitalization of $158.64 million, a PE ratio of -1.99 and a beta of 0.76.

Institutional Trading of Eledon Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Eledon Pharmaceuticals by 39.4% during the first quarter. Vanguard Group Inc. now owns 969,121 shares of the company’s stock worth $1,996,000 after acquiring an additional 273,703 shares during the last quarter. Nantahala Capital Management LLC purchased a new stake in shares of Eledon Pharmaceuticals in the second quarter valued at $1,584,000. Armistice Capital LLC increased its position in Eledon Pharmaceuticals by 1.7% during the 2nd quarter. Armistice Capital LLC now owns 2,336,000 shares of the company’s stock worth $6,167,000 after purchasing an additional 39,000 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in Eledon Pharmaceuticals in the 2nd quarter valued at about $80,000. Finally, Clarity Capital Partners LLC purchased a new position in Eledon Pharmaceuticals in the 3rd quarter valued at about $29,000. 56.77% of the stock is currently owned by hedge funds and other institutional investors.

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).