EIKN’s Quiet Period Will Expire on March 17th (NASDAQ:EIKN)

EIKN’s (NASDAQ:EIKN) quiet period will 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, insiders and underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. 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

A number of brokerages recently issued reports on EIKN. Zacks Research upgraded EIKN to a “hold” rating in a research report on Friday, February 27th. Cantor Fitzgerald initiated coverage on shares of EIKN in a research report on Monday, March 2nd. They set an “overweight” rating on the stock. JPMorgan Chase & Co. initiated coverage on shares of EIKN in a research note on Monday, March 2nd. They issued an “overweight” rating and a $29.00 target price on the stock. Morgan Stanley initiated coverage on shares of EIKN in a report on Monday, March 2nd. They issued an “overweight” rating and a $32.00 target price for the company. Finally, Wedbush assumed coverage on shares of EIKN in a research note on Thursday, February 26th. They set an “underperform” rating and a $7.00 price target for the company. Five equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.60.

EIKN Stock Performance

Shares of NASDAQ:EIKN opened at $11.46 on Friday. EIKN has a 52-week low of $10.82 and a 52-week 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.