Eledon Pharmaceuticals (ELDN) has received a new Buy rating, initiated by Noble Financial analyst, Robert LeBoyer.
Robert LeBoyer’s Buy rating for Eledon Pharmaceuticals is primarily based on the company’s ongoing development of tegoprubart, an anti-CD40L antibody aimed at modulating the immune response. This drug is currently in Phase 1b and Phase 2 clinical trials, seeking to prevent kidney transplant rejection. The trials are designed to prove the drug’s superiority over existing immunosuppressive medications. Tegoprubart works by blocking a specific step in the immune response where CD40 ligand (CD40L) on T cells interacts with the CD40 receptor on other cells, thereby inhibiting B cell maturation and T-cell proliferation.
LeBoyer’s confidence in Eledon is further bolstered by the anticipated data from the ongoing Phase 1b trial, which has already shown early interim data on safety, function, and organ survival. He also looks forward to the Phase 2 BESTOW trial, an open-label active-comparator trial directly comparing tegoprubart against tacrolimus, a standard treatment for kidney transplantation. The concluding factor for LeBoyer’s rating is his expectation for Eledon’s stock to be driven by the Phase 1b data presentation and the milestones from the Phase 2 BESTOW trial. His models predict a product launch in 2029, with a valuation based on FY2030 EPS, discounted at 30% per year, resulting in a price target of $10.
See today’s best-performing stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Eledon Pharmaceuticals (ELDN) Company Description:
Eledon Pharmaceuticals, Inc. (Nasdaq:ELDN) is an immunology-focused biotechnology company utilizing its experience in the CD40/CD40L costimulatory pathway to develop and commercialize precision therapies for persons undergoing organ and cellular transplantation, and for people living with autoimmune and neurodegenerative disease. The company’s lead compound in development is tegoprubart (AT-1501), an anti-CD40L antibody. The company, which was established in 2004, is headquartered in Irvine, CA.
Read More on ELDN:
- Eledon:Tegoprubart used as part of imunosuppressive regimen post transplant
- Eledon Pharmaceuticals Announces Use of Tegoprubart anti-CD40L Antibody in Second-ever Transplant of Genetically Modified Heart from a Pig to a Human
- Eledon Pharmaceuticals to Participate at the 2023 Cantor Fitzgerald Global Healthcare Conference
- Eledon Pharmaceuticals appoints Robinson to board of directors
- Eledon Pharmaceuticals Appoints Industry Veteran James Robinson to its Board of Directors
