Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Receives Average Rating of “Hold” from Brokerages

Shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) have earned an average rating of “Hold” from the five ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $9.6667.

A number of brokerages recently issued reports on ELDN. Weiss Ratings reissued a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a report on Wednesday, June 24th. Wall Street Zen cut shares of Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th.

Eledon Pharmaceuticals Price Performance

Shares of NASDAQ ELDN opened at $3.95 on Friday. Eledon Pharmaceuticals has a 52-week low of $1.35 and a 52-week high of $4.60. The stock has a market capitalization of $304.90 million, a P/E ratio of -5.13 and a beta of 0.95. The firm’s 50-day moving average price is $3.73 and its two-hundred day moving average price is $2.87.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its earnings results on Wednesday, May 13th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.11). As a group, equities research analysts expect that Eledon Pharmaceuticals will post -0.74 earnings per share for the current year.

Institutional Trading of Eledon Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Eledon Pharmaceuticals in the fourth quarter valued at $947,000. CM Management LLC boosted its stake in shares of Eledon Pharmaceuticals by 60.0% during the 3rd quarter. CM Management LLC now owns 600,000 shares of the company’s stock worth $1,554,000 after acquiring an additional 225,000 shares in the last quarter. Catalio Capital Management LP grew its holdings in shares of Eledon Pharmaceuticals by 18.7% in the 4th quarter. Catalio Capital Management LP now owns 1,259,820 shares of the company’s stock worth $1,902,000 after acquiring an additional 198,688 shares during the last quarter. Blue Owl Capital Holdings LP grew its holdings in shares of Eledon Pharmaceuticals by 96.9% in the 4th quarter. Blue Owl Capital Holdings LP now owns 1,929,912 shares of the company’s stock worth $2,914,000 after acquiring an additional 950,000 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Eledon Pharmaceuticals during the fourth quarter worth $2,387,000. 56.77% of the stock is currently owned by institutional investors.

About Eledon Pharmaceuticals

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.