Eikon Therapeutics (NASDAQ:EIKN) Price Target Cut to $4.00 by Analysts at Wedbush

Eikon Therapeutics (NASDAQ:EIKN) had its price target decreased by Wedbush from $5.00 to $4.00 in a report released on Friday morning, MarketBeat Ratings reports. Wedbush currently has an underperform rating on the stock.

Several other equities research analysts also recently issued reports on EIKN. Cantor Fitzgerald reiterated an “overweight” rating on shares of Eikon Therapeutics in a research note on Tuesday, June 2nd. Weiss Ratings upgraded shares of Eikon Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Eikon Therapeutics Stock Up 7.0%

Shares of NASDAQ:EIKN opened at $11.05 on Friday. Eikon Therapeutics has a 1 year low of $7.90 and a 1 year high of $17.40. The stock has a market cap of $598.25 million and a PE ratio of -4.49. The business’s 50-day moving average price is $10.07.

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). Research analysts expect that Eikon Therapeutics will post -7.06 EPS for the current year.

Institutional Investors Weigh In On Eikon Therapeutics

Several hedge funds have recently modified their holdings of EIKN. Bank of New York Mellon Corp purchased a new position in Eikon Therapeutics in the 2nd quarter worth approximately $624,000. Deutsche Bank AG purchased a new stake in shares of Eikon Therapeutics during the second quarter valued at approximately $281,000. BlackRock Inc. raised its stake in shares of Eikon Therapeutics by 29.0% during the second 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. The Manufacturers Life Insurance Company lifted its position in shares of 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 purchasing an additional 6,734 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Eikon Therapeutics during the second quarter worth $28,000.

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.