Eloxx Pharmaceuticals ELOX Stock Forecast 2023

Eloxx Pharmaceuticals ELOX Stock Forecast 2023: Latest Price

Eloxx Pharmaceuticals based in Israel is a Pontifax portfolio company established in 2013 by Dr. Silvia Noiman, that serves as its Executive Chairman, and Dr. Shmuel Tuvia. The company is a biopharmaceutical company focused on the discovery, development, and commercialization of compounds for the treatment of genetic diseases caused by nonsense mutations including Cystic fibrosis, Duchene Muscular Dystrophy, Usher syndrome, Ataxia-telangiectasia, Beta thalassemia, Tay-Sachs Hurler syndrome, and many others.

Eloxx Pharmaceuticals Stock 12-Month Price Target

Eloxx Stock 12-Month Target$50

CNN: The analysts offering 12-month price forecasts for Eloxx Pharmaceuticals Inc have a median target of 50.00, with a high estimate of 50.00 and a low estimate of 50.00. The median estimate represents a +429.10% increase from the last price of 9.45.

ELOX Stock Forecast 2023: Latest News

  1. Eloxx Pharmaceuticals Inc is down Wednesday morning, with the stock falling -5.67% in pre-market trading to 9.15. Eloxx Pharmaceuticals Inc has risen 224.41% over the past month, closing at $2.92 on March 15. During this period of time, the stock fell as low as $2.35 and as high as $9.80.
  2. On March 28, Eloxx Pharmaceuticals, Inc., a pioneer in ribosomal RNA-targeted genetic therapies for rare diseases, announced that ZKN-013 for the treatment of recessive dystrophic epidermolysis bullosa (RDEB) with nonsense mutations had been submitted as an investigational new drug (IND) application to the U.S. Food and Drug Administration. An uncommon skin condition called RDEB is caused by mutations in the Collagen7 gene. ZKN-013’s ability to cure FAP was examined in research using the APCMin (multiple intestinal neoplasias) model, the findings of which Eloxx announced in January 2023.

Eloxx Pharmaceuticals Technical Analysis

  • 52-Week Range: 1.696 – 20.760
  • Volume: 2,547,146
  • Average Vol.(3m): 239,137
  • Market Cap: 21.01M
  • EPS: -16.65
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The stock’s long-term technicals appear to be fairly bullish, and the short-term period graph offers a highly compelling chance to purchase. When seen over a one-day period, the graph still seems to be in the high buy area. Moving averages (MA) 50 and MA 200 are at 3.687 and 6.913 respectively, and they look to be heading upward.

The relative strength index (88.972) and the ultimate oscillator (64.498) both indicate that the momentum oscillators also like the stock.

Additionally, a fantastic purchase chance is shown by the MACD (12, 26) and Williams%R, which is advantageous for the trend. Even the volatility index is high, demonstrating that the positive oscillations may be sustained by a large enough exchange.

ELOX Stock Forecast: Fundamentals

Eloxx Pharmaceuticals, Inc. reported earnings results for the full year that ended December 31, 2022. For the full year, the company reported a net loss was USD 36.07 million compared to USD 66.73 million a year ago. The basic loss per share from continuing operations was USD 16.65 compared to USD 38.15 a year ago. The diluted loss per share from continuing operations was USD 16.65 compared to USD 38.15 a year ago.

Liquidity Crunch: As of December 31, 2022, we had unrestricted cash and cash equivalents of $19.2 million which equates to a quick ratio of 0.83, when we compare this to the industry average of 5.83 times, we can deduce that the company is facing a liquidity crisis of sorts.

PE Ratio: Peloton Interactive Inc. has a price-to-earnings ratio of negative 0.51 which is quite less as compared to the industry average of 14.25 times.

Eloxx Pharmaceuticals, Inc. is estimated to report earnings on 05/05/2023. According to Zacks Investment Research, based on analysts’ forecasts, the consensus EPS forecast for the quarter is $-2.55. The reported EPS for the same quarter last year was $-5.2.

Eloxx Pharmaceuticals ELOX Stock Forecast: Macros

The size of the worldwide biotechnology market was forecast to be USD 1,023.92 billion in 2021, and from 2022 to 2030, it is anticipated to expand at a CAGR of 13.9%. Government activities aimed at modernizing the regulatory framework, enhancing approval procedures and reimbursement practices, and standardizing clinical studies all contribute to the market’s growth. Personalized medicines’ expanding influence and the rise in orphan drug formulations are creating new opportunities for biotechnology applications and attracting a wave of cutting-edge startups, which is helping to raise market revenue.

The market growth is being majorly impacted by Therapeutics and Regeneron. The market is expected to grow as demand for clinical treatments for chronic diseases such as cancer, diabetes, age-related macular degeneration, and practically all types of arthritis rise.

Is Eloxx Pharmaceuticals a Good Investment?

Eloxx Pharmaceuticals has a compelling pipeline of innovative product candidates with significant potential in the rare and ultra-rare genetic disease market. Its strong clinical progress, strategic collaborations, and solid financial position make it an attractive investment opportunity for investors looking for exposure to the biopharmaceutical sector. Here are some reasons why Eloxx could be a good investment:

Eloxx is focused on developing novel therapies using its proprietary platform that aims to restore the function of ribosomes, which are responsible for protein synthesis. This innovative approach has the potential to lead to breakthrough treatments for rare and ultra-rare genetic diseases, which have limited treatment options. Eloxx has a robust pipeline of product candidates in various stages of clinical development, including two programs in Phase 2 clinical trials. The company’s lead candidate, ELX-02, is being evaluated for the treatment of cystic fibrosis caused by nonsense mutations and has shown promising results in early clinical trials.

Rare and ultra-rare genetic diseases affect a small population, but they represent a significant unmet medical need. Eloxx is targeting several of these diseases, which collectively have a potential market opportunity of several billion dollars.

Additionally, Eloxx has a strong financial position. Eloxx has a strong balance sheet with sufficient cash and cash equivalents to fund its operations into 2024. The company’s cash reserves provide it with the flexibility to invest in its pipeline and advance its clinical programs without the need for immediate fundraising.

Considering all the above reasons, Eloxx is a good investment but investing in stock involves a financial risk therefore it is advised to do your own research before investing.

Author: Pratyush Mengi

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions. 

Eloxx Pharmaceuticals ELOX Stock Forecast 2023