UPDATE: Citi Starts Eidos Therapeutics (EIDX) at Buy

(updating comment)

Citi analyst Joel Beatty initiates coverage on Eidos Therapeutics (NASDAQ: EIDX) with a Buy rating and a price target of $80.00.

The analyst comments "We rate EIDX Buy because: 1) we believe the probability of success of acoramidis for TTR amyloidosis (ATTR) is very high (though, we believe that the Street also attributes a fairly high probability of success to this agent as well), 2) we see the ATTR-cardiomyopathy market as very attractive and underappreciated, and 3) we believe that over the long-term acoramidis looks to be one the most attractive – if not, the most attractive – commercial agents for ATTR-cardiomyopathy, which we believe is underappreciated by the Street."

For an analyst ratings summary and ratings history on Eidos Therapeutics click here. For more ratings news on Eidos Therapeutics click here.

Shares of Eidos Therapeutics closed at $40.99 yesterday.

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