Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Given Consensus Rating of “Hold” by Brokerages

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) has been given an average recommendation of “Hold” by the five brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $9.6667.

A number of equities analysts have recently weighed in on the stock. Guggenheim dropped their price target on shares of Eledon Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research report on Monday, December 29th.

Eledon Pharmaceuticals Stock Up 6.1%

ELDN stock opened at $2.78 on Monday. Eledon Pharmaceuticals has a 12-month low of $1.35 and a 12-month high of $4.60. The company has a market cap of $166.61 million, a price-to-earnings ratio of -2.62 and a beta of 0.84. The company has a 50 day moving average of $2.10 and a two-hundred day moving average of $2.33.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ELDN. ADAR1 Capital Management LLC acquired a new stake in shares of Eledon Pharmaceuticals in the 4th quarter valued at $2,751,000. Jefferies Financial Group Inc. acquired a new stake in shares of Eledon Pharmaceuticals in the fourth quarter worth about $2,387,000. Ensign Peak Advisors Inc lifted its position in shares of Eledon Pharmaceuticals by 94.9% in the fourth quarter. Ensign Peak Advisors Inc now owns 2,464,919 shares of the company’s stock worth $3,722,000 after buying an additional 1,200,000 shares during the last quarter. AWM Investment Company Inc. bought a new stake in shares of Eledon Pharmaceuticals during the 4th quarter worth about $1,661,000. Finally, Sphera Funds Management LTD. increased its holdings in shares of Eledon Pharmaceuticals by 97.4% during the 4th quarter. Sphera Funds Management LTD. now owns 2,132,131 shares of the company’s stock valued at $3,220,000 after acquiring an additional 1,051,898 shares during the last quarter. Institutional investors and hedge funds own 56.77% of the company’s stock.

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.