Sprouts Farmers Market closes $600 million revolving credit facility
Investing.com - Cantor Fitzgerald maintained its Overweight rating on Eledon Pharmaceuticals (NASDAQ:ELDN) on Thursday. With analyst targets ranging from $8 to $10 and a strong consensus recommendation of 1.17 (Buy), the firm reaffirmed its positive stance on the kidney transplant-focused biotech company following a Fireside Chat with the company’s leadership team.
The Fireside Chat included Eledon’s CEO, DA Gros, Chief Scientific Officer Steven Perrin, and Chief Medical (TASE:BLWV) Officer Eliezer Katz, who discussed the company’s tegoprubart kidney transplant program. Tegoprubart is being developed as a CD40L antibody inhibitor for preventing organ rejection in kidney transplant patients. According to InvestingPro data, the company maintains a healthy financial position with more cash than debt and a strong current ratio of 13.91.
Eledon’s strategic goal for tegoprubart is to replace calcineurin inhibitors (CNIs), such as tacrolimus, which currently serve as the backbone of immunosuppressive therapy in transplant medicine. The company is targeting this market because current CNIs are associated with nephrotoxicity and increased risk of graft failure.
The research firm’s continued Overweight rating suggests confidence in Eledon’s development approach and the potential market opportunity for tegoprubart. Cantor Fitzgerald did not disclose any price target changes in its latest assessment.
The rating reaffirmation comes as Eledon continues to advance its clinical programs focused on developing alternatives to current immunosuppressive therapies in the organ transplant field.
In other recent news, Eledon Pharmaceuticals reported a net loss of $0.08 per basic share for the first quarter of 2025. Following this, Cantor Fitzgerald maintained its Overweight rating on the company, indicating confidence in its potential to outperform in the coming months. Stifel analysts adjusted their financial model for Eledon, leading to improved forecasts for operating expenses and raised earnings per share estimates for 2025 and 2026. In a significant development, Eledon Pharmaceuticals appointed Deloitte & Touche LLP as its new independent auditor, replacing Crowe LLP. The transition was approved by the company’s Audit Committee and was not due to any disagreements on accounting practices or financial disclosures. Furthermore, H.C. Wainwright assumed coverage on Eledon with a buy rating and a $9.00 price target, highlighting the potential of its lead drug candidate, tegoprubart. The drug, currently in Phase 1b trials, has shown to be generally safe and well-tolerated in patients undergoing kidney transplantation. Eledon’s Phase 2 trial is expected to report topline results in the fourth quarter of 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.