Eidos Therapeutics (NASDAQ:EIDX) PT Set at $56.00 by BTIG Research

BTIG Research set a $56.00 price target on Eidos Therapeutics (NASDAQ:EIDX) in a report issued on Friday, The Fly reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Eidos Therapeutics from a sell rating to a hold rating in a research note on Tuesday, July 23rd. Piper Jaffray Companies started coverage on Eidos Therapeutics in a research note on Monday, July 22nd. They issued an overweight rating and a $55.00 price target on the stock. Finally, BMO Capital Markets upped their price target on Eidos Therapeutics to $50.00 and gave the stock an outperform rating in a research note on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $37.57.

Shares of EIDX stock opened at $45.97 on Friday. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -24.72 and a beta of -0.99. The business’s fifty day moving average is $39.41 and its 200 day moving average is $30.34. Eidos Therapeutics has a twelve month low of $8.89 and a twelve month high of $47.58. The company has a quick ratio of 20.89, a current ratio of 20.89 and a debt-to-equity ratio of 0.01.

Eidos Therapeutics (NASDAQ:EIDX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.01). Equities research analysts expect that Eidos Therapeutics will post -1.7 earnings per share for the current fiscal year.

In other news, insider Jonathan C. Fox sold 5,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.72, for a total value of $193,600.00. Following the sale, the insider now directly owns 2,850 shares of the company’s stock, valued at $110,352. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jonathan C. Fox sold 15,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $40.04, for a total value of $600,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,000 shares of company stock worth $1,171,700. Insiders own 70.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paloma Partners Management Co purchased a new stake in shares of Eidos Therapeutics in the second quarter worth $758,000. Bank of America Corp DE grew its stake in shares of Eidos Therapeutics by 1,868.6% in the second quarter. Bank of America Corp DE now owns 65,888 shares of the company’s stock worth $2,047,000 after acquiring an additional 62,541 shares during the last quarter. Cormorant Asset Management LP grew its stake in shares of Eidos Therapeutics by 8.7% in the second quarter. Cormorant Asset Management LP now owns 551,921 shares of the company’s stock worth $17,154,000 after acquiring an additional 44,357 shares during the last quarter. Invesco Ltd. grew its stake in shares of Eidos Therapeutics by 3.1% in the second quarter. Invesco Ltd. now owns 46,273 shares of the company’s stock worth $1,438,000 after acquiring an additional 1,383 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Eidos Therapeutics by 3.3% in the second quarter. Vanguard Group Inc. now owns 376,178 shares of the company’s stock worth $11,692,000 after acquiring an additional 11,857 shares during the last quarter. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

About Eidos Therapeutics

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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