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

EIKN’s (NASDAQ:EIKN) quiet period will expire 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 EIKN’s quiet period, insiders and any underwriters involved in 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, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

Several research firms have recently weighed in on EIKN. Mizuho started 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. Wall Street Zen cut EIKN from a “hold” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. began coverage on EIKN in a report on Monday, March 2nd. They issued an “overweight” rating and a $29.00 target price for the company. Cantor Fitzgerald initiated coverage on EIKN in a research note on Monday, March 2nd. They issued an “overweight” rating on the stock. Finally, Wedbush began coverage on shares of EIKN in a research report on Thursday, February 26th. They set an “underperform” rating and a $7.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.60.

EIKN Trading Up 3.7%

Shares of EIKN opened at $14.91 on Tuesday. EIKN has a one year low of $13.28 and a one year 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.