Eidos Therapeutics (NASDAQ:EIDX) Cut to “Hold” at Zacks Investment Research

Eidos Therapeutics (NASDAQ:EIDX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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. “

A number of other analysts also recently issued reports on 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 research note on Friday, November 1st. BidaskClub raised Eidos Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Barclays downgraded Eidos Therapeutics from an “equal weight” rating to an “underweight” rating and set a $45.00 price objective on the stock. in a research note on Tuesday, February 18th. Guggenheim assumed coverage on Eidos Therapeutics in a research note on Wednesday, February 19th. They issued a “buy” rating and a $66.00 price objective on the stock. Finally, Piper Jaffray Companies lifted their price objective on Eidos Therapeutics from $55.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $58.43.

NASDAQ:EIDX traded up $0.86 during trading hours on Wednesday, reaching $48.04. The stock had a trading volume of 50,500 shares, compared to its average volume of 104,521. The company has a debt-to-equity ratio of 0.03, a quick ratio of 17.00 and a current ratio of 17.00. Eidos Therapeutics has a 52 week low of $16.87 and a 52 week high of $66.56. The company has a 50 day moving average price of $53.67 and a two-hundred day moving average price of $48.89. The stock has a market capitalization of $1.84 billion, a PE ratio of -60.05 and a beta of -0.83.

In other news, insider Jonathan C. Fox sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $59.75, for a total transaction of $597,500.00. Also, CFO Christine Siu sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $59.75, for a total value of $1,195,000.00. Insiders own 70.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sowell Financial Services LLC boosted its holdings in Eidos Therapeutics by 2,375.0% during the 4th quarter. Sowell Financial Services LLC now owns 990 shares of the company’s stock valued at $57,000 after acquiring an additional 950 shares during the period. Acadian Asset Management LLC purchased a new position in Eidos Therapeutics during the 4th quarter valued at $94,000. Bank of Montreal Can boosted its holdings in Eidos Therapeutics by 31.6% during the 4th quarter. Bank of Montreal Can now owns 1,869 shares of the company’s stock valued at $107,000 after acquiring an additional 449 shares during the period. Metropolitan Life Insurance Co NY purchased a new position in Eidos Therapeutics during the 1st quarter valued at $143,000. Finally, Quantbot Technologies LP boosted its holdings in Eidos Therapeutics by 43.7% during the 4th quarter. Quantbot Technologies LP now owns 3,724 shares of the company’s stock valued at $213,000 after acquiring an additional 1,132 shares during the period. 32.52% of the stock is currently owned by hedge funds and other institutional investors.

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.

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