Elicio Therapeutics, Inc. (NASDAQ:ELTX – Get Free Report) has received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $21.75.
A number of equities analysts have issued reports on the company. B. Riley Financial assumed coverage on Elicio Therapeutics in a research report on Wednesday, June 10th. They set a “buy” rating and a $27.00 price target on the stock. LADENBURG THALM/SH SH assumed coverage on Elicio Therapeutics in a research report on Wednesday, April 15th. They set a “buy” rating and a $20.00 price target on the stock. Wall Street Zen downgraded Elicio Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Rodman & Renshaw reiterated a “buy” rating on shares of Elicio Therapeutics in a research report on Monday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Elicio Therapeutics in a research report on Friday, April 24th.
Check Out Our Latest Stock Analysis on ELTX
Institutional Investors Weigh In On Elicio Therapeutics
Key Stories Impacting Elicio Therapeutics
Here are the key news stories impacting Elicio Therapeutics this week:
- Positive Sentiment: HC Wainwright reportedly raised its price target and reiterated a buy rating, suggesting some analysts still see upside if the development strategy improves. Analyst price target update
- Neutral Sentiment: JonesTrading reaffirmed a hold rating, indicating a wait-and-see stance after the clinical update. JonesTrading rating reaffirmed
- Neutral Sentiment: The company also outlined a refined Phase 3 development strategy, but that longer-term plan has been overshadowed by the Phase 2 miss. Phase 2 results and Phase 3 strategy
- Negative Sentiment: The main catalyst is the failed AMPLIFY-7P trial endpoint, which directly undermines the investment case for ELI-002 7P and triggered a sharp selloff. Reuters report on trial miss
- Negative Sentiment: Law firms have already announced investigations into whether Elicio properly disclosed the trial setback, adding litigation risk and more pressure on the shares. Investigation announcement
Elicio Therapeutics Stock Down 32.4%
Shares of ELTX stock opened at $2.76 on Wednesday. Elicio Therapeutics has a 1-year low of $2.66 and a 1-year high of $16.00. The stock’s fifty day moving average price is $11.08 and its 200 day moving average price is $9.88. The company has a debt-to-equity ratio of 5.75, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market cap of $52.69 million, a price-to-earnings ratio of -1.15 and a beta of 1.13.
Elicio Therapeutics (NASDAQ:ELTX – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.16). On average, research analysts expect that Elicio Therapeutics will post -2.09 earnings per share for the current fiscal year.
About Elicio Therapeutics
Angion Biomedica Corp. is a late-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of novel small molecule therapeutics to address acute organ injuries and fibrotic diseases. Angion Biomedica Corp. is based in UNIONDALE, N.Y.
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