Eidos Therapeutics (NASDAQ:EIDX) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Eidos Therapeutics (NASDAQ:EIDX) from a hold rating to a buy rating in a research report released on Monday morning, Zacks.com reports. They currently have $52.00 target price on the stock.

According to Zacks, “Eidos Therapeutics, Inc. is a clinical stage biopharmaceutical company. It discovers and develops novel oral therapy for the treatment of diseases caused by transthyretin amyloidosis. Eidos Therapeutics, Inc. is based in San Francisco, United States. “

Other research analysts also recently issued research reports about the company. Roth Capital lifted their price objective on Eidos Therapeutics from $51.00 to $57.00 and gave the stock a buy rating in a report on Friday, November 1st. Barclays downgraded Eidos Therapeutics from an overweight rating to an equal weight rating and boosted their price target for the company from $37.00 to $45.00 in a report on Friday, November 1st. BMO Capital Markets boosted their price target on Eidos Therapeutics to $50.00 and gave the company an outperform rating in a report on Monday, July 22nd. Piper Jaffray Companies started coverage on Eidos Therapeutics in a report on Monday, July 22nd. They set an overweight rating and a $55.00 price target on the stock. Finally, BTIG Research set a $56.00 price target on Eidos Therapeutics and gave the company a buy rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $47.00.

Shares of EIDX traded up $2.57 during trading hours on Monday, hitting $57.59. The company had a trading volume of 341,340 shares, compared to its average volume of 159,171. The firm has a market cap of $1.75 billion, a P/E ratio of -30.84 and a beta of -0.94. The stock’s 50 day moving average price is $41.29 and its 200 day moving average price is $36.31. The company has a quick ratio of 17.00, a current ratio of 17.00 and a debt-to-equity ratio of 0.03. Eidos Therapeutics has a 52-week low of $11.15 and a 52-week high of $58.84.

Eidos Therapeutics (NASDAQ:EIDX) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.48. The company had revenue of $26.69 million during the quarter. On average, research analysts expect that Eidos Therapeutics will post -1.07 EPS for the current fiscal year.

In related news, insider Jonathan C. Fox sold 5,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.74, for a total transaction of $228,700.00. Also, insider Uma Sinha sold 2,500 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $38.41, for a total value of $96,025.00. In the last 90 days, insiders have sold 12,500 shares of company stock worth $502,125. 70.10% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Cormorant Asset Management LP boosted its position in Eidos Therapeutics by 8.7% during the 2nd quarter. Cormorant Asset Management LP now owns 551,921 shares of the company’s stock valued at $17,154,000 after acquiring an additional 44,357 shares in the last quarter. Vanguard Group Inc. boosted its position in Eidos Therapeutics by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 376,178 shares of the company’s stock valued at $11,692,000 after acquiring an additional 11,857 shares in the last quarter. Northern Trust Corp boosted its position in Eidos Therapeutics by 1.5% during the 2nd quarter. Northern Trust Corp now owns 184,115 shares of the company’s stock valued at $5,723,000 after acquiring an additional 2,647 shares in the last quarter. Alps Advisors Inc. bought a new stake in Eidos Therapeutics during the 2nd quarter valued at approximately $2,395,000. Finally, Bank of America Corp DE boosted its position in Eidos Therapeutics by 1,868.6% during the 2nd quarter. Bank of America Corp DE now owns 65,888 shares of the company’s stock valued at $2,047,000 after acquiring an additional 62,541 shares in the last quarter. 32.42% of the stock is currently owned by institutional investors and hedge funds.

Eidos Therapeutics Company Profile

Eidos Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on developing drugs to treat diseases caused by transthyretin (TTR) amyloidosis (ATTR). It is developing AG10, an orally-administered small molecule designed to stabilize tetrameric TTR, thereby halting at its outset the series of molecular events that give rise to ATTR.

Recommended Story: Hang Seng Index (HSI)

Get a free copy of the Zacks research report on Eidos Therapeutics (EIDX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Eidos Therapeutics (NASDAQ:EIDX)

Receive News & Ratings for Eidos Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eidos Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.