Lifesci Capital Issues Optimistic Estimate for ELDN Earnings

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) – Investment analysts at Lifesci Capital boosted their FY2024 earnings estimates for shares of Eledon Pharmaceuticals in a research note issued to investors on Wednesday, November 13th. Lifesci Capital analyst R. Katkhuda now anticipates that the company will post earnings per share of ($1.35) for the year, up from their previous forecast of ($1.47). The consensus estimate for Eledon Pharmaceuticals’ current full-year earnings is ($1.52) per share. Lifesci Capital also issued estimates for Eledon Pharmaceuticals’ Q4 2024 earnings at ($0.37) EPS.

Eledon Pharmaceuticals Stock Down 3.1 %

ELDN opened at $4.00 on Friday. The company has a market cap of $158.62 million, a PE ratio of -1.99 and a beta of 0.76. Eledon Pharmaceuticals has a twelve month low of $1.11 and a twelve month high of $5.54. The company has a 50-day moving average price of $3.26 and a 200 day moving average price of $2.89.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02).

Institutional Investors Weigh In On Eledon Pharmaceuticals

A number of hedge funds have recently modified their holdings of ELDN. Marco Investment Management LLC boosted its stake in Eledon Pharmaceuticals by 22.3% during the second quarter. Marco Investment Management LLC now owns 30,344 shares of the company’s stock worth $80,000 after buying an additional 5,535 shares during the period. Clarity Capital Partners LLC purchased a new position in shares of Eledon Pharmaceuticals during the 3rd quarter worth approximately $29,000. CM Management LLC raised its position in Eledon Pharmaceuticals by 14.3% in the first quarter. CM Management LLC now owns 160,000 shares of the company’s stock valued at $330,000 after purchasing an additional 20,000 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Eledon Pharmaceuticals in the second quarter valued at approximately $80,000. Finally, Armistice Capital LLC lifted its stake in Eledon Pharmaceuticals by 1.7% during the second quarter. Armistice Capital LLC now owns 2,336,000 shares of the company’s stock worth $6,167,000 after purchasing an additional 39,000 shares in the last quarter. Hedge funds and other institutional investors own 56.77% of the company’s stock.

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).