Eidos Therapeutics (NASDAQ:EIDX) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Eidos Therapeutics (NASDAQ:EIDX) from a hold rating to a sell rating in a report released 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. “

Several other analysts have also commented on EIDX. BMO Capital Markets lowered Capital Power from an outperform rating to a market perform rating in a research note on Wednesday, May 8th. BTIG Research set a $14.00 price target on ARBOR RLTY TR I/SH and gave the company a buy rating in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Eidos Therapeutics presently has a consensus rating of Buy and a consensus target price of $30.29.

Shares of NASDAQ:EIDX opened at $39.97 on Wednesday. Eidos Therapeutics has a 1-year low of $8.89 and a 1-year high of $40.52. The stock’s 50 day moving average price is $31.66. The company has a current ratio of 19.04, a quick ratio of 19.04 and a debt-to-equity ratio of 0.01.

Eidos Therapeutics (NASDAQ:EIDX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.32) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32). Research analysts expect that Eidos Therapeutics will post -1.73 EPS for the current year.

In other Eidos Therapeutics news, major shareholder Bridgebio Pharma, Inc. acquired 1,103,848 shares of the business’s stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $25.93 per share, for a total transaction of $28,622,778.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan C. Fox sold 5,000 shares of Eidos Therapeutics stock in a transaction on Monday, April 15th. The shares were sold at an average price of $23.11, for a total value of $115,550.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,000 shares of company stock worth $1,820,890.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co NY bought a new position in Eidos Therapeutics in the 1st quarter valued at $143,000. MetLife Investment Advisors LLC bought a new stake in shares of Eidos Therapeutics during the first quarter worth $198,000. Fiduciary Trust Co. bought a new stake in shares of Eidos Therapeutics during the first quarter worth $211,000. American International Group Inc. raised its position in shares of Eidos Therapeutics by 2.3% during the first quarter. American International Group Inc. now owns 245,362 shares of the company’s stock worth $5,754,000 after acquiring an additional 5,586 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Eidos Therapeutics by 193.1% during the first quarter. Candriam Luxembourg S.C.A. now owns 425,000 shares of the company’s stock worth $9,967,000 after acquiring an additional 280,000 shares during the last quarter. Hedge funds and other institutional investors own 34.01% of the company’s stock.

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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