HC Wainwright Has Negative Outlook for ELDN Q4 Earnings

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) – Investment analysts at HC Wainwright reduced their Q4 2024 earnings per share (EPS) estimates for shares of Eledon Pharmaceuticals in a note issued to investors on Wednesday, November 20th. HC Wainwright analyst V. Bernardino now expects that the company will earn ($0.32) per share for the quarter, down from their prior forecast of ($0.22). HC Wainwright has a “Buy” rating and a $16.00 price target on the stock. The consensus estimate for Eledon Pharmaceuticals’ current full-year earnings is ($0.72) per share. HC Wainwright also issued estimates for Eledon Pharmaceuticals’ FY2025 earnings at ($0.91) EPS.

Eledon Pharmaceuticals Stock Down 1.5 %

ELDN stock opened at $4.01 on Friday. The company has a market capitalization of $159.04 million, a P/E ratio of -2.00 and a beta of 0.76. The company has a 50-day simple moving average of $3.40 and a 200 day simple moving average of $2.94. Eledon Pharmaceuticals has a fifty-two week low of $1.11 and a fifty-two week high of $5.54.

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

Institutional Investors Weigh In On Eledon Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clarity Capital Partners LLC bought a new stake in Eledon Pharmaceuticals in the third quarter worth about $29,000. Marco Investment Management LLC raised its holdings in shares of Eledon Pharmaceuticals by 22.3% in the 2nd quarter. Marco Investment Management LLC now owns 30,344 shares of the company’s stock worth $80,000 after purchasing an additional 5,535 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Eledon Pharmaceuticals during the second quarter valued at approximately $80,000. Renaissance Technologies LLC boosted its holdings in Eledon Pharmaceuticals by 57.1% during the second quarter. Renaissance Technologies LLC now owns 136,773 shares of the company’s stock worth $361,000 after buying an additional 49,704 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Eledon Pharmaceuticals by 9.7% in the third quarter. Geode Capital Management LLC now owns 378,058 shares of the company’s stock worth $942,000 after buying an additional 33,569 shares during the last quarter. 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).