Guggenheim lowered the firm’s price target on Eledon Pharmaceuticals (ELDN) to $8 from $9 and keeps a Buy rating on the shares following the Q3 report last week. In addition to “routine incrementally positive adjustments,” the firm is also incorporating the dilution from the recent fund raising, the analyst tells investors.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ELDN:
- Eledon Pharmaceuticals: Promising Kidney Transplant Program and Strong Financial Position Support Buy Rating
- Eledon Pharmaceuticals reports Q3 EPS (21c), consensus (25c)
- Eledon Pharmaceuticals options imply 14.1% move in share price post-earnings
- Eledon Pharmaceuticals Announces $46.5M Public Offering
- Eledon prices 15.15M shares at $1.65 in underwritten public offering