Eikon Therapeutics (NASDAQ:EIKN) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Eikon Therapeutics from “sell” to “hold.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $24.67, though ratings range from strong buy to sell.
• Eikon opened at $5.98, near its one-year low of $5.01 and well below its one-year high of $17.40.
• The company reported quarterly EPS of -$1.59, beating analyst estimates of -$1.74 by $0.15; analysts expect full-year EPS of -$7.12.

Eikon Therapeutics (NASDAQ:EIKN - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

Several other research firms have also recently weighed in on EIKN. Mizuho upgraded Eikon Therapeutics to a "strong-buy" rating in a report on Wednesday, September 16th. Weiss Ratings raised Eikon Therapeutics from a "sell (e-)" rating to a "sell (e)" rating in a research note on Monday, August 3rd. HC Wainwright assumed coverage on Eikon Therapeutics in a report on Friday, October 16th. They set a "buy" rating and a $23.00 target price for the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Eikon Therapeutics in a research note on Friday, August 21st. Finally, Wedbush cut their price target 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Eikon Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $24.67.

Eikon Therapeutics Price Performance

EIKN stock opened at $5.98 on Friday. Eikon Therapeutics has a one year low of $5.01 and a one year high of $17.40. The firm has a 50 day simple moving average of $7.53 and a two-hundred day simple moving average of $10.04.

Eikon Therapeutics (NASDAQ:EIKN - Get Free Report) last posted its quarterly earnings data on Thursday, November 12th. The company reported ($1.59) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.74) by $0.15. As a group, sell-side analysts expect that Eikon Therapeutics will post -7.12 EPS for the current fiscal year.

Insider Transactions at Eikon Therapeutics

In other news, major shareholder Group Iv Gp Lp Column bought 89,200 shares of Eikon Therapeutics stock in a transaction that occurred on Thursday, September 3rd. The stock was bought at an average cost of $11.56 per share, with a total value of $1,031,152.00. Following the acquisition, the insider owned 89,200 shares of the company's stock, valued at $1,031,152. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Eikon Therapeutics

Hedge funds have recently made changes to their positions in the business. State Street Corp grew its stake in Eikon Therapeutics by 71.9% in the third quarter. State Street Corp now owns 608,838 shares of the company's stock worth $4,895,000 after purchasing an additional 254,745 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Eikon Therapeutics by 29.7% in the 3rd quarter. Alps Advisors Inc. now owns 71,255 shares of the company's stock valued at $573,000 after acquiring an additional 16,307 shares during the last quarter. Regents of The University of California bought a new stake in Eikon Therapeutics during the third quarter valued at $5,106,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Eikon Therapeutics during the second quarter worth $461,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Eikon Therapeutics during the second quarter worth $142,000.

Eikon Therapeutics Company Profile

Eikon Therapeutics is a biopharmaceutical company focused on discovering and developing medicines for serious diseases, including cancer. The company uses advanced imaging, computational biology and drug-discovery methods to study how proteins behave in living cells and identify potential therapeutic targets. Founded in 2019 by Roger Perlmutter, a former head of Merck Research Laboratories, Eikon is based in California. Its work is centered on research and development; the company is not known for marketed medicines.

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