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Investing.com - Cantor Fitzgerald has reiterated an Overweight rating on Eledon Pharmaceuticals (NASDAQ:ELDN) following the company’s R&D Day focused on its lead asset, tegoprubart.
The R&D Day provided a comprehensive overview of tegoprubart, a CD40L antibody inhibitor designed to replace calcineurin inhibitors (CNIs) such as tacrolimus in immunosuppressive therapy. The presentation included key opinion leader insights on kidney and islet cell transplantation applications.
Tegoprubart aims to address a significant clinical challenge, as current CNIs are associated with toxic side effects that can drive long-term graft failure in transplant patients.
The research firm noted gaining a deeper understanding of the transplant space, including Eledon’s ongoing Phase 1b/2 studies in kidney transplant and Phase 1/2 trials in islet cell transplant for Type 1 Diabetes (T1D).
Cantor Fitzgerald also highlighted tegoprubart’s market opportunity, though specific financial projections or price targets were not disclosed in the available information.
In other recent news, Eledon Pharmaceuticals has been the focus of analyst attention following its latest financial and strategic developments. The company reported a net loss of $0.08 per basic share for the first quarter of 2025. This aligns with its ongoing investment in research and development as it advances its clinical programs. Cantor Fitzgerald maintained its Overweight rating on Eledon, reflecting confidence in the company’s approach and market potential, though no price target changes were disclosed. Meanwhile, H.C. Wainwright assumed coverage with a Buy rating and set a price target of $9.00, citing the potential efficacy of Eledon’s lead drug candidate, tegoprubart. The drug is being developed to prevent organ rejection in kidney transplant patients and is noted for its safety and tolerability in interim Phase 1b trial results. Additionally, Stifel analysts have updated their financial model for Eledon, improving the operating expense forecast and raising earnings per share estimates for 2025 and 2026. These developments underscore the company’s progress and the interest it continues to generate among analysts.
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