ELDN FY2024 EPS Forecast Raised by Cantor Fitzgerald

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) – Analysts at Cantor Fitzgerald raised their FY2024 EPS estimates for Eledon Pharmaceuticals in a research report issued to clients and investors on Wednesday, November 13th. Cantor Fitzgerald analyst P. Stavropoulos now anticipates that the company will post earnings of ($0.28) per share for the year, up from their previous forecast of ($1.14). The consensus estimate for Eledon Pharmaceuticals’ current full-year earnings is ($0.72) per share.

Eledon Pharmaceuticals Stock Performance

NASDAQ:ELDN opened at $3.90 on Monday. The firm has a market cap of $154.67 million, a price-to-earnings ratio of -1.94 and a beta of 0.76. Eledon Pharmaceuticals has a 52 week low of $1.11 and a 52 week high of $5.54. The firm’s 50-day simple moving average is $3.29 and its 200 day simple moving average is $2.91.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its quarterly earnings data 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 Inflows and Outflows

A number of hedge funds have recently modified their holdings of ELDN. Clarity Capital Partners LLC bought a new stake in shares of Eledon Pharmaceuticals during the 3rd quarter worth $29,000. Dimensional Fund Advisors LP acquired a new position in shares of Eledon Pharmaceuticals in the second quarter valued at approximately $80,000. Marco Investment Management LLC increased its position in Eledon Pharmaceuticals by 22.3% in the 2nd 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. CM Management LLC increased its holdings in Eledon Pharmaceuticals by 14.3% in the first quarter. CM Management LLC now owns 160,000 shares of the company’s stock valued at $330,000 after purchasing an additional 20,000 shares during the period. Finally, Renaissance Technologies LLC raised its position in Eledon Pharmaceuticals by 57.1% during the 2nd 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 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).