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On Thursday, Cantor Fitzgerald reaffirmed its Overweight rating on Eledon Pharmaceuticals (NASDAQ:ELDN), following the company’s first-quarter earnings report for 2025. The biopharmaceutical company disclosed a net loss of $0.08 per basic share for the quarter. Currently trading at $2.83, the stock has seen a significant decline of nearly 11% over the past week. According to InvestingPro analysis, the company’s Fair Value indicates the stock is fairly valued at current levels.
Stifel analysts have updated their financial model for Eledon Pharmaceuticals to incorporate the actual earnings from the first quarter of 2025. This revision has led to an improvement in the operating expense forecast, which in turn has resulted in raised earnings per share (EPS) estimates for the years 2025 and 2026. With a market capitalization of $169.5 million and analyst price targets ranging from $8 to $16, the stock shows significant potential upside from current levels. InvestingPro subscribers have access to 8 additional key insights about ELDN’s financial health and growth prospects.
The adjustment in the model by the analysts comes after Eledon Pharmaceuticals reported its quarterly financial results earlier in the week. The reported net loss aligns with the company’s current stage of development and investment in research and development activities.
Eledon Pharmaceuticals, which focuses on developing therapies for autoimmune and inflammatory diseases, as well as organ transplant rejection, has been closely monitored by analysts for its growth potential and pipeline progress.
The company’s updated operating expense (OpEx) forecast and subsequent EPS adjustments reflect the firm’s analysis of the company’s financial trajectory and potential future performance. The Overweight rating indicates that Cantor Fitzgerald’s analysts believe the stock could outperform the average total return of the stocks in the analyst’s industry coverage universe over the next 12 to 18 months.
In other recent news, Eledon Pharmaceuticals announced the appointment of Deloitte & Touche LLP as its new independent registered public accounting firm for the fiscal year ending December 31, 2025. This transition follows the dismissal of the previous auditor, Crowe LLP, effective April 1, 2025. The company’s Audit Committee approved this change, emphasizing there were no disagreements on accounting principles or practices with Crowe. Crowe’s audit reports for the past two fiscal years were free from adverse opinions or disclaimers and did not reflect any uncertainties or modifications. Eledon Pharmaceuticals also confirmed that during the two most recent fiscal years and the interim period through April 1, 2025, there were no consultations with Deloitte that impacted accounting or financial reporting decisions. The appointment aligns with Eledon Pharmaceuticals’ commitment to maintaining high standards in financial reporting and auditing practices. The company has filed a letter from Crowe with the SEC, agreeing with Eledon’s statements regarding the transition. This development underscores Eledon Pharmaceuticals’ focus on transparency and regulatory compliance in its financial practices.
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