Eidos Therapeutics (NASDAQ:EIDX) Sees Large Volume Increase After Analyst Upgrade

Eidos Therapeutics Inc (NASDAQ:EIDX) shares saw strong trading volume on Tuesday after Piper Jaffray Companies raised their price target on the stock from $55.00 to $75.00. Piper Jaffray Companies currently has an overweight rating on the stock. 10,350 shares traded hands during mid-day trading, a decline of 93% from the previous session’s volume of 153,887 shares.The stock last traded at $58.75 and had previously closed at $55.02.

Several other research firms also recently issued reports on EIDX. Barclays downgraded shares of Eidos Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $37.00 to $45.00 in a research report on Friday, November 1st. BMO Capital Markets lifted their price target on shares of Eidos Therapeutics to $50.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Roth Capital raised their price objective on Eidos Therapeutics from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Zacks Investment Research upgraded Eidos Therapeutics from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Monday. Finally, BTIG Research set a $56.00 price objective on Eidos Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $49.50.

In other Eidos Therapeutics news, insider Uma Sinha sold 2,500 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $38.41, for a total transaction of $96,025.00. Also, insider Jonathan C. Fox sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $35.48, for a total value of $177,400.00. Over the last 90 days, insiders have sold 12,500 shares of company stock worth $502,125. Company 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. Alps Advisors Inc. bought a new stake in shares of Eidos Therapeutics during the 2nd quarter worth $2,395,000. Cormorant Asset Management LP raised its stake in shares of Eidos Therapeutics by 8.7% during the 2nd quarter. Cormorant Asset Management LP now owns 551,921 shares of the company’s stock worth $17,154,000 after purchasing an additional 44,357 shares during the period. SG Americas Securities LLC raised its stake in shares of Eidos Therapeutics by 903.4% during the 3rd quarter. SG Americas Securities LLC now owns 40,357 shares of the company’s stock worth $1,452,000 after purchasing an additional 36,335 shares during the period. Bank of America Corp DE raised its stake in shares of 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 worth $2,047,000 after purchasing an additional 62,541 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Eidos Therapeutics by 3.1% during the 2nd quarter. Invesco Ltd. now owns 46,273 shares of the company’s stock worth $1,438,000 after purchasing an additional 1,383 shares during the period. Institutional investors own 32.42% of the company’s stock.

The company has a market capitalization of $1.75 billion, a P/E ratio of -30.96 and a beta of -0.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 17.00 and a current ratio of 17.00. The stock has a 50 day moving average price of $41.29 and a 200 day moving average price of $36.31.

Eidos Therapeutics (NASDAQ:EIDX) last released its earnings results on Thursday, October 31st. The company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.48. The business had revenue of $26.69 million for the quarter. As a group, sell-side analysts expect that Eidos Therapeutics Inc will post -1.07 earnings per share for the current year.

Eidos Therapeutics Company Profile (NASDAQ:EIDX)

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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