RNA-binding protein that binds to AU-rich element (ARE) sequences of target mRNAs, including VEGF mRNA (PubMed:10710437). May also bind poly-A tracts via RRM 3 (By similarity). May be involved in neuronal differentiation and maintenance (By similarity). Plays a role in the stabilization of GAP43 mRNA and in spatial learning (By similarity). {ECO:0000250|UniProtKB:Q60900, ECO:0000269|PubMed:10710437}. This is the function of Ensembl gene identifier ENSG00000196361 (ELAVL3, ELAV like RNA binding protein 3).