Eledon Pharmaceuticals (ELDN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Rami Katkhuda from LifeSci Capital maintained a Buy rating on the stock and has a $9.00 price target.
Rami Katkhuda has given his Buy rating due to a combination of factors that highlight Eledon Pharmaceuticals’ promising developments and financial stability. The company has reported a strong cash position of $140.2 million, which is expected to support its operations through the end of 2025. This financial stability is further bolstered by the successful completion of enrollment for the Phase II BESTOW study, which is evaluating the efficacy of tegoprubart in kidney transplantation, with results anticipated in Q4 2025.
Additionally, Eledon has announced positive initial data from a study at the University of Chicago, where tegoprubart showed promising results in preventing islet transplant rejection in Type 1 Diabetes patients. The study indicated that tegoprubart could be a less toxic alternative to current treatments, as evidenced by the higher islet engraftment rates and improved patient outcomes. These clinical advancements, coupled with the company’s robust financial position, underpin Rami Katkhuda’s Buy rating for Eledon Pharmaceuticals.