Eikon Therapeutics (NASDAQ:EIKN) Raised to Strong-Buy at Mizuho

Key Points

• Mizuho upgraded Eikon Therapeutics to “strong buy,” while analysts’ overall consensus remains “Moderate Buy” with a $25 price target.
• Eikon shares opened at $10.71, down 1.4%, and recently reported quarterly EPS of negative $1.63, missing estimates of negative $1.61.
• A major shareholder purchased 89,200 shares worth approximately $1.03 million, while several hedge funds—including Parkman Healthcare Partners—also established or added positions.

Eikon Therapeutics (NASDAQ:EIKN - Get Free Report) was upgraded by Mizuho to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

Other research analysts also recently issued research reports about the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Eikon Therapeutics in a research note on Friday, August 21st. Wedbush reduced their target price on shares of Eikon Therapeutics from $5.00 to $4.00 and set an "underperform" rating on the stock in a report on Friday, August 14th. Finally, Weiss Ratings raised shares of Eikon Therapeutics from a "sell (e-)" rating to a "sell (e)" rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Eikon Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.00.

Eikon Therapeutics Trading Down 1.4%

Shares of NASDAQ EIKN opened at $10.71 on Monday. The company has a market cap of $580.11 million and a price-to-earnings ratio of -2.62. Eikon Therapeutics has a 12 month low of $7.90 and a 12 month high of $17.40. The stock has a 50-day moving average price of $10.55 and a two-hundred day moving average price of $10.88.

Eikon Therapeutics (NASDAQ:EIKN - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.63) earnings per share for the quarter, missing analysts' consensus estimates of ($1.61) by ($0.02). On average, sell-side analysts predict that Eikon Therapeutics will post -7.24 earnings per share for the current year.

Insider Activity

In other news, major shareholder Group Iv Gp Lp Column purchased 89,200 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were purchased at an average price of $11.56 per share, for a total transaction of $1,031,152.00. Following the transaction, the insider owned 89,200 shares of the company's stock, valued at approximately $1,031,152. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On Eikon Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new position in Eikon Therapeutics in the second quarter valued at $142,000. Citadel Advisors LLC bought a new position in shares of Eikon Therapeutics in the 2nd quarter worth about $170,000. California State Teachers Retirement System acquired a new position in shares of Eikon Therapeutics in the 2nd quarter valued at about $51,000. Comprehensive Financial Management LLC acquired a new position in shares of Eikon Therapeutics in the 2nd quarter valued at about $1,517,000. Finally, Parkman Healthcare Partners LLC bought a new stake in shares of Eikon Therapeutics during the 2nd quarter valued at about $3,341,000.

About Eikon Therapeutics

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.

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