What is Leerink Partnrs’ Estimate for ELEV FY2024 Earnings?

Elevation Oncology, Inc. (NASDAQ:ELEV) – Stock analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for Elevation Oncology in a report released on Wednesday, November 6th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings per share of ($0.85) for the year, up from their previous forecast of ($0.86). The consensus estimate for Elevation Oncology’s current full-year earnings is ($0.84) per share. Leerink Partnrs also issued estimates for Elevation Oncology’s Q4 2024 earnings at ($0.23) EPS, FY2025 earnings at ($0.79) EPS, FY2026 earnings at ($0.84) EPS and FY2027 earnings at ($1.04) EPS.

Elevation Oncology (NASDAQ:ELEV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02).

Several other equities analysts also recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Elevation Oncology in a research report on Wednesday, August 7th. JMP Securities reiterated a “market outperform” rating and set a $7.00 price target on shares of Elevation Oncology in a report on Monday, July 15th. Finally, Wedbush reiterated an “outperform” rating and issued a $8.00 price target on shares of Elevation Oncology in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $7.80.

Elevation Oncology Stock Up 3.1 %

Shares of ELEV opened at $0.67 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 41.10 and a current ratio of 17.77. Elevation Oncology has a 52 week low of $0.36 and a 52 week high of $5.83. The stock has a market capitalization of $39.61 million, a price-to-earnings ratio of -0.82 and a beta of 1.24. The stock has a fifty day moving average of $0.58 and a 200-day moving average of $1.93.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ELEV. Farallon Capital Management LLC acquired a new stake in Elevation Oncology in the first quarter worth $19,939,000. Logos Global Management LP boosted its position in shares of Elevation Oncology by 285.0% during the 2nd quarter. Logos Global Management LP now owns 3,850,000 shares of the company’s stock worth $10,395,000 after purchasing an additional 2,850,000 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in shares of Elevation Oncology in the 2nd quarter valued at about $7,988,000. Darwin Global Management Ltd. bought a new stake in Elevation Oncology in the 1st quarter valued at about $11,968,000. Finally, Vanguard Group Inc. increased its position in Elevation Oncology by 30.8% in the 1st quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock valued at $7,859,000 after buying an additional 360,799 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Elevation Oncology Company Profile

Elevation Oncology, Inc, an oncology company, focuses on the discovery and development of cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs. The company's lead candidate is EO-3021, an antibody-drug conjugate designed to target Claudin 18.2, a clinically validated molecular target.