Research Analysts Set Expectations for ELDN FY2024 Earnings

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) – Equities researchers at Cantor Fitzgerald raised their FY2024 earnings per share estimates for Eledon Pharmaceuticals in a report released on Wednesday, November 13th. Cantor Fitzgerald analyst P. Stavropoulos now forecasts that the company will post earnings per share of ($0.28) for the year, up from their prior estimate of ($1.14). The consensus estimate for Eledon Pharmaceuticals’ current full-year earnings is ($0.72) per share.

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

Eledon Pharmaceuticals Trading Down 3.1 %

Shares of ELDN opened at $4.00 on Monday. The firm’s fifty day simple moving average is $3.26 and its 200-day simple moving average is $2.90. The firm has a market capitalization of $158.64 million, a price-to-earnings 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.

Institutional Investors Weigh In On Eledon Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Clarity Capital Partners LLC purchased a new stake in Eledon Pharmaceuticals in the third quarter valued at $29,000. Dimensional Fund Advisors LP purchased a new stake in Eledon Pharmaceuticals in the second quarter valued at approximately $80,000. Marco Investment Management LLC boosted its holdings in shares of Eledon Pharmaceuticals by 22.3% in the second quarter. Marco Investment Management LLC now owns 30,344 shares of the company’s stock valued at $80,000 after acquiring an additional 5,535 shares during the period. Renaissance Technologies LLC grew its position in shares of 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 acquiring an additional 49,704 shares during the last quarter. Finally, CM Management LLC increased its holdings in shares of Eledon Pharmaceuticals by 14.3% in the 1st quarter. CM Management LLC now owns 160,000 shares of the company’s stock valued at $330,000 after acquiring an additional 20,000 shares during the period. Institutional investors and hedge funds 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).