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

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

Several research analysts have recently issued reports on the stock. Mizuho upgraded shares of Eikon Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 16th. Wedbush reduced their price target on shares of Eikon Therapeutics from $5.00 to $4.00 and set an “underperform” rating for the company in a research report on Friday, August 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Eikon Therapeutics in a report on Friday, August 21st. Finally, Weiss Ratings upgraded Eikon Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, August 3rd.

Eikon Therapeutics Trading Up 2.0%

NASDAQ EIKN opened at $8.29 on Friday. Eikon Therapeutics has a 12 month low of $7.72 and a 12 month high of $17.40. The stock has a market cap of $449.07 million and a P/E ratio of -2.03. The stock’s fifty day moving average price is $10.04 and its 200-day moving average price is $10.41.

Eikon Therapeutics (NASDAQ:EIKN) last announced its quarterly 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, analysts forecast that Eikon Therapeutics will post -7.24 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Eikon Therapeutics

A number of hedge funds have recently bought and sold shares of EIKN. State Street Corp bought a new position in Eikon Therapeutics during the 2nd quarter valued at about $4,621,000. The Manufacturers Life Insurance Company purchased a new position in shares of Eikon Therapeutics during the second quarter valued at approximately $461,000. Integrated Wealth Concepts LLC bought a new position in Eikon Therapeutics during the second quarter valued at approximately $142,000. Citadel Advisors LLC purchased a new stake in Eikon Therapeutics in the second quarter worth approximately $170,000. Finally, Comprehensive Financial Management LLC purchased a new stake in Eikon Therapeutics in the second quarter worth approximately $1,517,000.

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.