Zacks: Brokerages Anticipate Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Will Announce Earnings of -$0.67 Per Share

Brokerages expect Eledon Pharmaceuticals, Inc. (NASDAQ:ELDNGet Rating) to report ($0.67) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Eledon Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.66) and the lowest estimate coming in at ($0.67). Eledon Pharmaceuticals posted earnings per share of ($0.57) during the same quarter last year, which would indicate a negative year-over-year growth rate of 17.5%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Eledon Pharmaceuticals will report full year earnings of ($2.73) per share for the current fiscal year, with EPS estimates ranging from ($4.24) to ($2.00). For the next fiscal year, analysts forecast that the company will report earnings of ($1.65) per share, with EPS estimates ranging from ($1.93) to ($1.34). Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Eledon Pharmaceuticals.

Eledon Pharmaceuticals (NASDAQ:ELDNGet Rating) last issued its quarterly earnings results on Thursday, March 24th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.16.

ELDN has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Eledon Pharmaceuticals in a research note on Friday, January 14th. Zacks Investment Research raised Eledon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 25th. Lifesci Capital reissued an “outperform” rating on shares of Eledon Pharmaceuticals in a research note on Friday, March 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Eledon Pharmaceuticals in a research note on Tuesday, March 29th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eledon Pharmaceuticals has a consensus rating of “Buy” and an average price target of $29.00.

Several institutional investors have recently made changes to their positions in the company. BVF Inc. IL lifted its holdings in shares of Eledon Pharmaceuticals by 22.5% during the 3rd quarter. BVF Inc. IL now owns 1,363,435 shares of the company’s stock valued at $8,426,000 after buying an additional 250,000 shares during the last quarter. Morgan Stanley lifted its holdings in Eledon Pharmaceuticals by 7,235.6% in the 2nd quarter. Morgan Stanley now owns 851,004 shares of the company’s stock worth $6,732,000 after purchasing an additional 839,403 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Eledon Pharmaceuticals by 105.9% in the 4th quarter. Point72 Asset Management L.P. now owns 431,435 shares of the company’s stock worth $1,903,000 after purchasing an additional 221,945 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Eledon Pharmaceuticals by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 127,558 shares of the company’s stock worth $788,000 after purchasing an additional 2,944 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in Eledon Pharmaceuticals by 48.0% in the 3rd quarter. Two Sigma Advisers LP now owns 115,900 shares of the company’s stock worth $716,000 after purchasing an additional 37,600 shares during the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.

ELDN traded up $0.01 during trading on Friday, reaching $3.06. The company had a trading volume of 9,444 shares, compared to its average volume of 21,571. The firm’s 50-day simple moving average is $3.44 and its 200 day simple moving average is $4.23. The company has a market cap of $43.79 million, a price-to-earnings ratio of -1.32 and a beta of 1.92. Eledon Pharmaceuticals has a 12-month low of $2.65 and a 12-month high of $10.20.

Eledon Pharmaceuticals Company Profile (Get Rating)

Eledon Pharmaceuticals, Inc, clinical stage biopharmaceutical company, focuses on developing medicines for the patients living with autoimmune disease and amyotrophic lateral sclerosis (ALS), and requiring an organ or cell-based transplant. Its lead product candidate includes AT-1501, a humanized monoclonal antibody to target CD40 Ligand that is a molecule expressed on the surface of human immune system T cells, which is in Phase 2a clinical trials for the treatment of ALS, and Phase 2 clinical trials in islet cell transplantation for the treatment of type 1 diabetes.

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