Eikon Therapeutics, Inc. (NASDAQ:EIKN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Eikon Therapeutics, Inc. (NASDAQ:EIKN) have earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $25.00.

Several equities research analysts recently issued reports on EIKN shares. Mizuho raised shares of Eikon Therapeutics to a “strong-buy” rating in a research note on Wednesday. Weiss Ratings upgraded Eikon Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, August 3rd. Wedbush reduced their price target on Eikon Therapeutics from $5.00 to $4.00 and set an “underperform” rating for the company in a research report on Friday, August 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Eikon Therapeutics in a report on Friday, August 21st.

Insider Activity at Eikon Therapeutics

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

Institutional Investors Weigh In On Eikon Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in EIKN. BlackRock Inc. boosted its stake in Eikon Therapeutics by 29.0% during the 2nd quarter. BlackRock Inc. now owns 4,281,425 shares of the company’s stock valued at $55,873,000 after purchasing an additional 962,046 shares during the period. Parkman Healthcare Partners LLC acquired a new stake in Eikon Therapeutics in the 2nd quarter worth $3,341,000. Comprehensive Financial Management LLC acquired a new position in shares of Eikon Therapeutics during the second quarter valued at about $1,517,000. Bank of New York Mellon Corp bought a new position in Eikon Therapeutics during the second quarter valued at about $624,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Eikon Therapeutics in the 2nd quarter worth approximately $461,000.

Eikon Therapeutics Stock Performance

NASDAQ:EIKN opened at $8.60 on Friday. The stock’s 50 day moving average price is $10.19 and its 200 day moving average price is $10.62. Eikon Therapeutics has a 52 week low of $7.90 and a 52 week high of $17.40. The company has a market capitalization of $465.86 million and a P/E ratio of -2.10.

Eikon Therapeutics (NASDAQ:EIKN) 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). As a group, sell-side analysts forecast that Eikon Therapeutics will post -7.24 earnings per share 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.