Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Given Average Recommendation of “Hold” by Brokerages

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) has earned an average recommendation of “Hold” from the five analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $9.6667.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research report on Friday, March 27th.

Eledon Pharmaceuticals Price Performance

ELDN stock opened at $4.14 on Tuesday. The firm has a market capitalization of $314.02 million, a P/E ratio of -7.96 and a beta of 0.83. The business’s 50-day moving average is $2.78 and its two-hundred day moving average is $2.43. Eledon Pharmaceuticals has a 1 year low of $1.35 and a 1 year high of $4.60.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.10. On average, analysts expect that Eledon Pharmaceuticals will post -1.11 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position 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 acquiring an additional 7,166 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Eledon Pharmaceuticals during the 4th quarter worth about $36,000. Virtu Financial LLC acquired a new position in shares of Eledon Pharmaceuticals during the 4th quarter worth about $39,000. Cetera Investment Advisers boosted its position in shares of Eledon Pharmaceuticals by 72.9% during the 4th quarter. Cetera Investment Advisers now owns 26,584 shares of the company’s stock worth $40,000 after acquiring an additional 11,207 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Eledon Pharmaceuticals during the 4th quarter worth about $45,000. 56.77% of the stock is owned by institutional investors and hedge funds.

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.