Eikon Therapeutics (NASDAQ:EIKN) Issues Quarterly Earnings Results

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

Eikon Therapeutics Stock Performance

NASDAQ EIKN traded up $0.72 on Friday, reaching $11.05. 637,716 shares of the company’s stock traded hands, compared to its average volume of 317,371. The stock has a market cap of $598.25 million and a price-to-earnings ratio of -4.49. The business has a 50 day moving average of $10.07. Eikon Therapeutics has a fifty-two week low of $7.90 and a fifty-two week high of $17.40.

Institutional Trading of Eikon Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in Eikon Therapeutics during the second quarter valued at $624,000. Deutsche Bank AG purchased a new position in shares of Eikon Therapeutics during the 2nd quarter worth $281,000. BlackRock Inc. grew its position in Eikon Therapeutics by 29.0% in the second quarter. BlackRock Inc. now owns 4,281,425 shares of the company’s stock worth $55,873,000 after acquiring an additional 962,046 shares during the period. The Manufacturers Life Insurance Company boosted its stake 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 period. Finally, Legal & General Group Plc acquired a new stake in shares of Eikon Therapeutics in the second quarter valued at $28,000.

Wall Street Analysts Forecast Growth

EIKN has been the subject of several recent analyst reports. Wedbush reduced their price objective on shares of Eikon Therapeutics from $5.00 to $4.00 and set an “underperform” rating for the company in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Eikon Therapeutics in a report on Tuesday, June 2nd. Finally, Weiss Ratings raised Eikon Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a research report on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Eikon Therapeutics currently has a consensus rating of “Hold” and an average price target of $25.00.

About Eikon Therapeutics

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.