Eledon Pharmaceuticals (ELDN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Vernon Bernardino from H.C. Wainwright reiterated a Buy rating on the stock and has a $16.00 price target.
Vernon Bernardino has given his Buy rating due to a combination of factors related to Eledon Pharmaceuticals’ promising developments in organ transplantation therapies. The company’s key product, tegoprubart, an anti-CD40 ligand antibody, has shown significant potential as a cornerstone component of immunosuppression therapy for organ transplants, particularly in kidney and pancreatic islet cell transplantation. The positive results from these studies suggest that tegoprubart could achieve substantial sales, especially in kidney transplants, with projections indicating the potential for $2 billion in annual sales.
Furthermore, Eledon Pharmaceuticals’ recent clinical trial results have demonstrated the potential for tegoprubart to help Type 1 diabetes patients achieve insulin independence, a development with blockbuster drug implications. The company’s strong balance sheet is expected to support its operational goals through late 2026, allowing for further exploration of clinical activities. These factors, combined with the anticipation of updated interim clinical data from ongoing trials, underpin Bernardino’s Buy rating and the $16 price target for Eledon Pharmaceuticals.
Bernardino covers the Healthcare sector, focusing on stocks such as Aethlon Medical, Candel Therapeutics, and Cassava Sciences. According to TipRanks, Bernardino has an average return of -0.3% and a 23.73% success rate on recommended stocks.
In another report released today, LifeSci Capital also maintained a Buy rating on the stock with a $9.00 price target.