Eledon Pharmaceuticals price target raised to $16 from $13 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Eledon Pharmaceuticals to $16 from $13 and keeps a Buy rating on the shares after the company announced clinical progress with tegoprubart, its novel anti-CD40L antibody, as an investigational treatment for prevention of organ transplant rejection. More specifically, Eledon reported that the first participant in an investigator-led clinical trial received an islet cell transplant and is being treated with an immunosuppression regimen that includes tegoprubart. The firm is positive on the news as Eledon continues to report positive reports from an ongoing clinical study with tegoprubart in kidney transplantation.