Fintel reports that on August 22, 2023, Cantor Fitzgerald reiterated coverage of Eledon Pharmaceuticals (NASDAQ:ELDN) with a Overweight recommendation.
Analyst Price Forecast Suggests 1,321.82% Upside
As of August 2, 2023, the average one-year price target for Eledon Pharmaceuticals is 18.77. The forecasts range from a low of 7.07 to a high of $40.95. The average price target represents an increase of 1,321.82% from its latest reported closing price of 1.32.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Eledon Pharmaceuticals is 0MM. The projected annual non-GAAP EPS is -1.83.
What is the Fund Sentiment?
There are 55 funds or institutions reporting positions in Eledon Pharmaceuticals. This is an increase of 5 owner(s) or 10.00% in the last quarter. Average portfolio weight of all funds dedicated to ELDN is 0.01%, a decrease of 51.38%. Total shares owned by institutions increased in the last three months by 47.20% to 9,382K shares. 
The put/call ratio of ELDN is 0.31, indicating a bullish outlook.
What are Other Shareholders Doing?
Bvf holds 4,327K shares representing 18.38% ownership of the company. In it's prior filing, the firm reported owning 2,327K shares, representing an increase of 46.22%. The firm decreased its portfolio allocation in ELDN by 17.69% over the last quarter.
Armistice Capital holds 1,843K shares representing 7.83% ownership of the company.
Woodline Partners holds 517K shares representing 2.19% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 460K shares representing 1.95% ownership of the company. No change in the last quarter.
Ensign Peak Advisors holds 443K shares representing 1.88% ownership of the company. No change in the last quarter.
Eledon Pharmaceuticals Background Information
(This description is provided by the company.)
Novus Therapeutics, Inc. is a clinical stage biotechnology company using its expertise in targeting the CD40L pathway to develop potential treatments for patients living with an autoimmune disease, patients requiring an organ or cell-based transplant, and for patients living with ALS. The company’s lead compound in development is AT-1501, a humanized IgG1 anti-CD40L antibody with high affinity for CD40 ligand (CD40L, also called CD154), a well-validated biological target with broad therapeutic potential. The CD40L/CD40 pathway is widely recognized for its prominent role in immune regulation. CD40L is primarily expressed on activated CD4+ T cells, platelets and endothelial cells while the CD40 receptor is constitutively expressed on antigen presenting cells such as B cells, macrophages, and dendritic cells. By blocking CD40L and not the CD40 receptor, AT-1501 inhibits both the CD40 and CD11 costimulatory signaling pathways, providing the potential for improved efficacy compared to anti-CD40 receptor approaches. Blocking CD40L also increases polarization of CD4+ lymphocytes to Tregs, a specialized subpopulation of T cells that act to suppress an immune response, thus creating a more tolerogenic environment, which is especially important for autoimmune diseases and in the transplant setting. Furthermore AT-1501 is an IgG1 antibody specifically engineered to cripple the Fc effector function to potentially improve safety, as well as potentially provide pharmacokinetic, pharmacodynamic, and dosing advantages compared to other approaches.
Additional reading:
- POWER OF ATTORNEY AND SIGNATURES
- Press Release Issued on August 10, 2023
- Eledon Pharmaceuticals, Inc. 2020 Long Term Incentive Plan, as amended
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