EIKN’s (NASDAQ:EIKN) Quiet Period To End on March 17th

EIKN’s (NASDAQ:EIKN) quiet period is set to end on Tuesday, March 17th. EIKN had issued 21,177,600 shares in its 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 the company’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

EIKN has been the subject of several analyst reports. Bank of America assumed coverage on shares of EIKN in a research note on Monday, March 2nd. They issued a “buy” rating and a $34.00 price target for the company. Morgan Stanley started coverage on EIKN in a report on Monday, March 2nd. They issued an “overweight” rating and a $32.00 price objective on the stock. Mizuho assumed coverage on EIKN in a research report on Monday, March 2nd. They issued an “outperform” rating and a $26.00 price objective for the company. Wedbush started coverage on EIKN in a research note on Thursday, February 26th. They set an “underperform” rating and a $7.00 target price for the company. Finally, Zacks Research upgraded EIKN to a “hold” rating in a research report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.60.

EIKN Stock Down 6.0%

NASDAQ EIKN opened at $13.18 on Thursday. EIKN has a 12 month low of $12.62 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.