EIKN’s (NASDAQ:EIKN) Quiet Period Set To End Tomorrow

EIKN’s (NASDAQ:EIKN) quiet period will expire on Tuesday, March 17th. EIKN had issued 21,177,600 shares in its initial public offering on February 5th. The total size of the offering was $381,196,800 based on an initial share price of $18.00. During EIKN’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Ratings Changes

Several research analysts have commented on EIKN shares. Wedbush started coverage on shares of EIKN in a research note on Thursday, February 26th. They set an “underperform” rating and a $7.00 price objective for the company. Bank of America began coverage on shares of EIKN in a report on Monday, March 2nd. They issued a “buy” rating and a $34.00 target price for the company. Morgan Stanley started coverage on shares of EIKN in a research note on Monday, March 2nd. They set an “overweight” rating and a $32.00 price target for the company. Wall Street Zen downgraded shares of EIKN from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Mizuho began coverage on shares of EIKN in a research report on Monday, March 2nd. They issued an “outperform” rating and a $26.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, EIKN currently has an average rating of “Moderate Buy” and an average price target of $25.60.

EIKN Stock Down 2.7%

NASDAQ EIKN opened at $11.46 on Monday. EIKN has a 12 month low of $10.82 and a 12 month high of $17.40.

EIKN Company Profile

We are a late-stage clinical biopharmaceutical company dedicated to building a global, fully-integrated organization developing important, innovative medicines to address serious unmet medical needs. We are led by world-renowned drug developers Dr. Roger M. Perlmutter, M.D., Ph.D., and Dr. Roy Baynes, M.D., Ph.D. Our vision is to become a generational leader, by purposefully integrating traditional biology research with advanced engineering to develop better medicines faster. Our initial focus is oncology, where we are advancing a pipeline of drug candidates targeting areas of high unmet need in large indications.