Eledon Pharmaceuticals (NASDAQ:ELDN) Posts Earnings Results, Beats Estimates By $0.02 EPS

Eledon Pharmaceuticals (NASDAQ:ELDN) issued its quarterly earnings results on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.02, FiscalAI reports.

Eledon Pharmaceuticals Price Performance

Shares of ELDN stock traded down $0.30 during midday trading on Thursday, reaching $2.37. 809,841 shares of the company traded hands, compared to its average volume of 1,138,031. The firm’s 50 day simple moving average is $2.59 and its two-hundred day simple moving average is $3.11. Eledon Pharmaceuticals has a 1-year low of $1.35 and a 1-year high of $4.49. The firm has a market cap of $192.59 million, a PE ratio of -2.60 and a beta of 0.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen lowered Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Sunday, August 23rd. Weiss Ratings upgraded Eledon Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday. Finally, Rodman & Renshaw started coverage on Eledon Pharmaceuticals in a report on Tuesday, July 21st. They issued a “buy” rating and a $12.00 price target for the company. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Eledon Pharmaceuticals has a consensus rating of “Hold” and an average target price of $10.00.

About Eledon Pharmaceuticals

Eledon Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing therapies for serious diseases involving the immune system. The company’s research focuses on modulating immune responses to help address conditions such as organ transplant rejection and amyotrophic lateral sclerosis (ALS). Its lead investigational product, tegoprubart, is an antibody that targets CD40 ligand, a protein involved in immune-system activation. Eledon is studying tegoprubart as a potential treatment to reduce rejection following organ transplantation and in research involving ALS.