Eikon Therapeutics (NASDAQ:EIKN) Posts Earnings Results, Misses Expectations By $0.02 EPS

Eikon Therapeutics (NASDAQ:EIKN) announced its quarterly earnings data on Thursday. The company reported ($1.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.02), FiscalAI reports.

Eikon Therapeutics Price Performance

Shares of EIKN stock traded up $0.58 during trading hours on Friday, reaching $10.91. The company’s stock had a trading volume of 349,494 shares, compared to its average volume of 368,666. Eikon Therapeutics has a one year low of $7.90 and a one year high of $17.40. The company has a market capitalization of $590.50 million and a PE ratio of -4.39. The business’s fifty day moving average is $10.03.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Eikon Therapeutics in a report on Tuesday, June 2nd. Wedbush decreased their price objective on shares of Eikon Therapeutics from $5.00 to $4.00 and set an “underperform” rating on the stock in a research report on Friday. 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. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Eikon Therapeutics presently has an average rating of “Hold” and a consensus target price of $25.00.

Institutional Investors Weigh In On Eikon Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc purchased a new position in shares of Eikon Therapeutics during the second quarter valued at about $28,000. Deutsche Bank AG purchased a new position in Eikon Therapeutics during the second quarter valued at $281,000. The Manufacturers Life Insurance Company boosted 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 buying an additional 6,734 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Eikon Therapeutics in the 2nd quarter worth about $624,000. Finally, Parkman Healthcare Partners LLC purchased a new stake in shares of Eikon Therapeutics in the 2nd quarter worth about $3,341,000.

Eikon Therapeutics Company Profile

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.