Eledon Pharmaceuticals (NASDAQ:ELDN) Announces Earnings Results

Eledon Pharmaceuticals (NASDAQ:ELDN) announced its quarterly earnings data on Friday. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01, FiscalAI reports.

Eledon Pharmaceuticals Stock Performance

ELDN traded down $0.25 during trading on Friday, reaching $2.12. 1,510,708 shares of the company’s stock were exchanged, compared to its average volume of 908,634. The company’s fifty day moving average price is $2.56 and its 200-day moving average price is $3.11. Eledon Pharmaceuticals has a fifty-two week low of $1.35 and a fifty-two week high of $4.49. The firm has a market capitalization of $172.27 million, a PE ratio of -2.90 and a beta of 0.95.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Eledon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday. Rodman & Renshaw started coverage on Eledon Pharmaceuticals in a research report on Tuesday, July 21st. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Weiss Ratings raised Eledon Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, November 9th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.