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Eledon Pharmaceuticals Inc (ELDN) fair value: what the stock is really worth

As of Oct 16, 2026: fair value (intrinsic value) of Eledon Pharmaceuticals Inc stock $0.50, price $2.13, upside -76.5%, quality 36 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · US · ISIN US28617K1016

EP Eledon Pharmaceuticals Inc logo Thin data Oct 2, 2026

Eledon Pharmaceuticals Inc

ELDN · US

Weakest SetupStrongly overvalued and low quality.

Our calculation puts a fair price 76% below what the stock costs today.

Fair value $0.5015 · Strongly overvalued (−76.5%)
Quality 36/100
Weak Growth (revenue YoY +0.0 %/yr in USD)
Negative free cash flow
Trails peers (2/7)
Narrow moat 8/100 · thin data
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$8.46 $1.12 Fair Value $0.5015 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.

How to read this chart

60‑month range $1.12 – $8.46 · fair‑value band $0.3315 – $0.6205 · the $2.13 price screens above the $0.5015 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.

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Company profile

Eledon Pharmaceuticals, Inc. operates as a clinical stage biotechnology company.

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It uses its immunology expertise in targeting the CD40 Ligand (CD40L) pathway to develop therapies to protect transplanted organs and prevent rejection, and to treat amyotrophic lateral sclerosis (ALS). The company's lead compound in development is tegoprubart, an IgG1 and anti-CD40L antibody with high affinity for CD40 Ligand, a biological target with therapeutic potential.

It is also developing its products for the prevention of allograft rejection in kidney transplantation and xenotransplantation.

The company has a collaboration agreement with eGenesis, Inc.; and a strategic collaboration with NewcelX Ltd. for the development of the NCEL-101 therapy for Type 1 Diabetes.

The company was formerly known as Novus Therapeutics, Inc. and changed its name to Eledon Pharmaceuticals, Inc. in January 2021. Eledon Pharmaceuticals, Inc. is headquartered in Irvine, California.

Stock analysis

Eledon Pharmaceuticals Inc (ELDN) currently trades at $2.13, while our model-based Fair Value estimate is $0.5015, 76.5% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: $0.3315 (bear) to $0.6205 (bull), the price of $2.13 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 36/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

Eledon Pharmaceuticals Inc reported revenue of $0 in FY2025 versus $120K in FY2021. Reported net income was −$45.6M in FY2025.

Key figures

Market cap $242M · EPS (TTM) $−0.8600 · Return on equity −111% · Return on assets (EBIT) −48.0% · Free cash flow −$62.3M · Net cash $22.2M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 8 out of 100 (low confidence).

What moves the price

The share trades about 51% below its 52-week high and 53% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −76%, ELDN screens richer than that median.

Fair Value models

Bear $0.3315 Fair Value $0.5015 Bull $0.6205
Price $2.13 · Upside -76.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) $0.3900 $0.5900 $0.7300 52
All 1 models by family
Asset-Based
NCAV (Graham) $0.3900 $0.5900 $0.7300 52

Open the full fair value analysis →

Quality Score breakdown

Overall quality 36/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 25
Are margins and returns getting better?
Cashflow 79
Do the profits arrive as real cash?
Financial strength 54
Debt, balance sheet and risk of trouble
Investment 50
Does it invest with discipline instead of growing at any price?
Low Volatility 33
How calm the share price moves, does not count
Momentum 10
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 17
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue growth is weak, negative or inconsistent.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

ELDN screens overvalued: fair value 76% below the price. Compare with Vertex Pharmaceuticals Incorporated →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 604 stocks

Beats the industry median on 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 36 · Below median
Fair Value upside −76.5% · Bottom 25%
Profitability
Return on assets −27.0% · Below median
Operating margin (12 months) 0.0% · Above median
Growth and dividend
Revenue growth 0.0% · Above median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 2.98× · Pricier than median

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $746.54 $1,275 +71% vs ELDN
Vertex Pharmaceuticals Incorporated VRTX $510.08 $561.09 +10% vs ELDN
argenx SE ARGX $825.03 $907.53 +10% vs ELDN
Samsung Biologics Co 207940 1,298,000 KRW 1,427,800 KRW +10% vs ELDN
WuXi Biologics (Cayman) Inc 2269 HK$52.65 HK$57.92 +10% vs ELDN
CSL Limited CSL A$192.20 A$180.83 −6% vs ELDN
Alnylam Pharmaceuticals, Inc ALNY $232.68 $217.88 −6% vs ELDN
BeOne Medicines AG ONC $354.47 $280.94 −21% vs ELDN
Celltrion, Inc 068270 180,400 KRW 74,519 KRW −59% vs ELDN
Royalty Pharma plc RPRX $56.93 $19.01 −67% vs ELDN

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Eledon Pharmaceuticals Inc · Fair Value
$0.5015 −76%Fair Value
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Cite: Fair Value Calculator (2026). "Eledon Pharmaceuticals Inc Fair Value". https://www.fairvalue-calculator.com/stock/ELDN

Frequently asked questions

Is Eledon Pharmaceuticals Inc (ELDN) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of $0.5015 versus a price of $2.13, about −76% upside (overvalued).
What is the fair value of ELDN?
Our model-based fair value for Eledon Pharmaceuticals Inc is $0.5015 (as of Oct 2, 2026), built from audited fundamentals. The current price: $2.13.
What is the quality score of ELDN?
Eledon Pharmaceuticals Inc has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Eledon Pharmaceuticals Inc (ELDN)?
Our model-based price target is the fair value of $0.5015 (as of Oct 2, 2026) from 1 valuation models. Cautious scenario $0.3315, optimistic scenario $0.6205. It is a calculation from audited fundamentals, not an analyst target.
What is the Eledon Pharmaceuticals Inc stock forecast for 2026?
Our models put fair value at $0.5015, about −76% upside versus a price of $2.13 (overvalued). Cautious scenario $0.3315, optimistic scenario $0.6205. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Eledon Pharmaceuticals Inc (ELDN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Eledon Pharmaceuticals Inc it is $0.5015 per share (as of Oct 2, 2026), against a price of $2.13. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Eledon Pharmaceuticals Inc stock overvalued or undervalued in 2026?
As of Oct 2, 2026, ELDN trades above its calculated fair value: price $2.13, fair value $0.5015, a gap of about −76% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ELDN?
No. The price is what the market pays today ($2.13); the fair value is what the company's own numbers justify ($0.5015). For Eledon Pharmaceuticals Inc the two are $1.63 per share apart. That gap is exactly why we show both numbers side by side.
How much is Eledon Pharmaceuticals Inc worth?
The market values Eledon Pharmaceuticals Inc at about $242M (market capitalisation, as of Oct 2, 2026). Per share that is $2.13; our models calculate a fair value of $0.5015 per share.
What do the bullish and bearish scenarios say about ELDN?
Our models span a range for Eledon Pharmaceuticals Inc: cautious scenario $0.3315, base $0.5015, optimistic $0.6205 per share (as of Oct 2, 2026, price $2.13). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Eledon Pharmaceuticals Inc (ELDN)?
Balance-sheet figures for Eledon Pharmaceuticals Inc (as of Oct 2, 2026): return on equity −110.7%. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is ELDN from its 52-week high?
Eledon Pharmaceuticals Inc trades at $2.13, about 51% below its 52-week high of $4.36 and 53% above the low of $1.39 (as of Oct 16, 2026). Distance from the high says nothing about value: that is what the fair value of $0.5015 is for.
Which stocks are comparable to Eledon Pharmaceuticals Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Eledon Pharmaceuticals Inc stock attractive at the current price?
The data as of Oct 2, 2026: price $2.13, calculated fair value $0.5015 (−76%), Quality Score 36/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ELDN calculated?
We run Eledon Pharmaceuticals Inc through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.5015, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.7 % above its aggregate fair value. Eledon Pharmaceuticals Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Eledon Pharmaceuticals Inc (ELDN)?
The closing price on Oct 16, 2026 was $2.13. Our model-based fair value is $0.5015, about −76% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Eledon Pharmaceuticals Inc right now?
The price sits above even our optimistic bull case ($0.6205). The favourable scenario is already priced in. Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($0.3315 to $0.6205) leaves room in how you read the outcome.

Key figures of Eledon Pharmaceuticals Inc

How large is the market capitalisation of Eledon Pharmaceuticals Inc (ELDN)?
The market capitalisation of Eledon Pharmaceuticals Inc is $242M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Eledon Pharmaceuticals Inc (ELDN)?
Earnings per share at Eledon Pharmaceuticals Inc are $−0.8600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Eledon Pharmaceuticals Inc (ELDN)?
The return on equity (ROE) of Eledon Pharmaceuticals Inc is −111% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Eledon Pharmaceuticals Inc (ELDN)?
On an EBIT basis the return on assets of Eledon Pharmaceuticals Inc is −48.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Eledon Pharmaceuticals Inc (ELDN) generate?
The free cash flow of Eledon Pharmaceuticals Inc is −$62.3M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Eledon Pharmaceuticals Inc (ELDN) hold?
Eledon Pharmaceuticals Inc holds more cash than debt, $22.2M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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