Eikon Therapeutics, Inc. (NASDAQ:EIKN) Stock Has Consensus Price Target of $24.67

Key Points

• Nine brokerages give Eikon Therapeutics a consensus “Moderate Buy” rating, with a 12-month average price target of $24.67. Ratings include five buys, one strong buy, one hold, and two sells.
• EIKN opened at $5.90, near its 12-month low of $5.01 and well below its $17.40 high. Its latest quarterly loss of $1.63 per share slightly missed analysts’ $1.61 loss estimate.
• Analyst opinions diverge: HC Wainwright set a $23 target and buy rating, while Wedbush cut its target to $4 and rated the stock underperform. A major shareholder also bought 89,200 shares at an average $11.56 each.

Eikon Therapeutics, Inc. (NASDAQ:EIKN - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $24.67.

Several research firms have recently weighed in on EIKN. Weiss Ratings upgraded shares of Eikon Therapeutics from a "sell (e-)" rating to a "sell (e)" rating in a research note on Monday, August 3rd. Wedbush decreased their price target on Eikon Therapeutics from $5.00 to $4.00 and set an "underperform" rating for the company in a report on Friday, August 14th. Cantor Fitzgerald reissued an "overweight" rating on shares of Eikon Therapeutics in a research report on Friday, August 21st. HC Wainwright assumed coverage on Eikon Therapeutics in a research report on Friday, October 16th. They set a "buy" rating and a $23.00 price target for the company. Finally, Mizuho raised Eikon Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 16th.

Eikon Therapeutics Trading Up 1.0%

Shares of Eikon Therapeutics stock opened at $5.90 on Friday. The stock has a market cap of $319.60 million and a price-to-earnings ratio of -1.44. Eikon Therapeutics has a 12-month low of $5.01 and a 12-month high of $17.40. The company has a fifty day simple moving average of $8.01 and a 200-day simple moving average of $10.15.

Eikon Therapeutics (NASDAQ:EIKN - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($1.63) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.61) by ($0.02). On average, analysts forecast that Eikon Therapeutics will post -7.12 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Eikon Therapeutics

A number of large investors have recently bought and sold shares of the business. Legal & General Group Plc acquired a new position in shares of Eikon Therapeutics during the 2nd quarter worth approximately $28,000. The Manufacturers Life Insurance Company increased its position in Eikon Therapeutics by 23.5% during the second quarter. The Manufacturers Life Insurance Company now owns 35,357 shares of the company's stock worth $461,000 after buying an additional 6,734 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Eikon Therapeutics in the second quarter valued at about $142,000. Citadel Advisors LLC acquired a new stake in Eikon Therapeutics during the 2nd quarter worth $170,000. Finally, Alps Advisors Inc. boosted its position in Eikon Therapeutics by 29.7% during the third quarter. Alps Advisors Inc. now owns 71,255 shares of the company's stock worth $573,000 after purchasing an additional 16,307 shares during the period.

Eikon Therapeutics Company Profile

Eikon Therapeutics is a biotechnology company focused on discovering and developing medicines by combining advanced live-cell imaging with computational and biological research. Its technology platform is designed to observe the behavior of individual proteins in living cells, helping researchers investigate disease mechanisms and identify potential therapeutic targets.

The company applies this platform to drug discovery and development, with an emphasis on oncology and other serious diseases.

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