Eledon Pharmaceuticals (NASDAQ:ELDN) Price Target Raised to $16.00 at HC Wainwright

Eledon Pharmaceuticals (NASDAQ:ELDN) had its price target increased by HC Wainwright from $13.00 to $16.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Eledon Pharmaceuticals Price Performance

Shares of NASDAQ:ELDN opened at $2.26 on Tuesday. The company has a market capitalization of $56.07 million, a price-to-earnings ratio of -1.26 and a beta of 0.86. The business’s 50-day moving average is $1.87 and its 200-day moving average is $1.66. Eledon Pharmaceuticals has a 1 year low of $1.07 and a 1 year high of $2.95.

Eledon Pharmaceuticals (NASDAQ:ELDN) last announced its quarterly earnings data on Thursday, March 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.09. Analysts anticipate that Eledon Pharmaceuticals will post -1.38 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Eledon Pharmaceuticals stock. Armistice Capital LLC increased its position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,189,000 shares of the company’s stock after buying an additional 365,000 shares during the quarter. Armistice Capital LLC owned about 9.05% of Eledon Pharmaceuticals worth $3,940,000 at the end of the most recent quarter. 56.77% of the stock is owned by 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).