HC Wainwright Has Bearish Forecast for ELDN Q4 Earnings

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) – Stock analysts at HC Wainwright cut their Q4 2024 earnings per share (EPS) estimates for shares of Eledon Pharmaceuticals in a research report issued to clients and investors on Wednesday, November 20th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings of ($0.32) per share for the quarter, down from their previous 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 (NASDAQ:ELDN) last announced its 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).

Eledon Pharmaceuticals Stock Up 5.7 %

NASDAQ ELDN opened at $4.07 on Friday. The firm has a 50-day moving average price of $3.37 and a two-hundred day moving average price of $2.93. Eledon Pharmaceuticals has a 12-month low of $1.11 and a 12-month high of $5.54. The company has a market capitalization of $161.42 million, a P/E ratio of -2.02 and a beta of 0.76.

Institutional Investors Weigh In On Eledon Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Clarity Capital Partners LLC acquired a new position in Eledon Pharmaceuticals in the 3rd quarter valued at $29,000. Marco Investment Management LLC increased its position 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 worth $80,000 after purchasing an additional 5,535 shares during the period. Dimensional Fund Advisors LP acquired a new position in Eledon Pharmaceuticals in the second quarter valued at about $80,000. Renaissance Technologies LLC lifted its position 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 purchasing an additional 49,704 shares during the period. Finally, Geode Capital Management LLC grew its stake in Eledon Pharmaceuticals by 9.7% during 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 in the last quarter. Institutional investors and hedge funds own 56.77% of the company’s stock.

About Eledon Pharmaceuticals

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).