Eikon Therapeutics, Inc. (NASDAQ:EIKN) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Eikon Therapeutics, with four buy ratings, one strong-buy, one hold and two sell recommendations. The average 12-month price target is $25.00.
• Recent analyst actions were mixed: Mizuho upgraded the stock to “strong buy,” while Wedbush cut its target price to $4.00 and assigned an “underperform” rating.
• Eikon shares opened at $8.60, near the lower end of their 52-week range, after the company reported a quarterly loss of $1.63 per share—slightly worse than the $1.61 consensus estimate.

Shares of Eikon Therapeutics, Inc. (NASDAQ:EIKN - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $25.00.

EIKN has been the topic of a number of recent analyst reports. Mizuho upgraded shares of Eikon Therapeutics to a "strong-buy" rating in a report on Wednesday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Eikon Therapeutics in a research note on Friday, August 21st. Weiss Ratings upgraded shares of Eikon Therapeutics from a "sell (e-)" rating to a "sell (e)" rating in a research report on Monday, August 3rd. Finally, Wedbush cut their target price on shares of Eikon Therapeutics from $5.00 to $4.00 and set an "underperform" rating on the stock in a research note on Friday, August 14th.

Insiders Place Their Bets

In other Eikon Therapeutics news, major shareholder Group Iv Gp Lp Column acquired 89,200 shares of Eikon Therapeutics stock in a transaction that occurred on Thursday, September 3rd. The stock was purchased at an average cost of $11.56 per share, with a total value of $1,031,152.00. Following the purchase, the insider owned 89,200 shares in the company, valued at approximately $1,031,152. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Eikon Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc purchased a new position in Eikon Therapeutics during the second quarter valued at approximately $28,000. The Manufacturers Life Insurance Company grew its holdings in shares of Eikon Therapeutics by 23.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,357 shares of the company's stock valued at $461,000 after acquiring an additional 6,734 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Eikon Therapeutics in the second quarter worth $142,000. Citadel Advisors LLC purchased a new stake in shares of Eikon Therapeutics during the second quarter worth $170,000. Finally, Deutsche Bank AG purchased a new stake in shares of Eikon Therapeutics during the second quarter worth $281,000.

Eikon Therapeutics Stock Up 1.1%

Shares of NASDAQ EIKN opened at $8.60 on Friday. Eikon Therapeutics has a 12 month low of $7.90 and a 12 month high of $17.40. The company has a market cap of $465.86 million and a price-to-earnings ratio of -2.10. The business has a fifty day simple moving average of $10.19 and a 200-day simple moving average of $10.62.

Eikon Therapeutics (NASDAQ:EIKN - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.61) by ($0.02). As a group, sell-side analysts expect that Eikon Therapeutics will post -7.24 EPS for the current fiscal year.

About Eikon Therapeutics

Eikon Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines by combining advanced live-cell imaging with drug discovery and development. The company's platform is designed to track individual molecules and cellular processes in real time, providing researchers with detailed insight into how potential therapies work inside living cells.

Eikon applies this technology primarily to the development of treatments for serious diseases, including cancer and other conditions involving complex biological pathways.

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