Eledon Pharmaceuticals assumed with a Buy at H.C. Wainwright

H.C. Wainwright analyst Yi Chen assmed coverage of Eledon Pharmaceuticals (ELDN) with a Buy rating and $9 price target Eledon is a clinical-stage biotechnology company focused on the development of an antibody targeting the CD40 ligand to prevent the rejection of transplanted organs and to treat neuroinflammation, the analyst tells investors in a research note. The firm says interim results from the Phase 1b trial demonstrated the company’s lead candidate tegoprubart is generally safe and well tolerated in patients undergoing de novo kidney transplantation.