Eikon Therapeutics, Inc. (NASDAQ:EIKN) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Eikon Therapeutics, Inc. (NASDAQ:EIKN) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has issued 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 analysts that have covered the stock in the last year is $25.00.

Several equities analysts have commented on the stock. Wedbush decreased 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 reaffirmed an “overweight” rating on shares of Eikon Therapeutics in a research report on Friday, August 21st. Mizuho raised Eikon Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 16th. 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 Stock Performance

Shares of EIKN stock opened at $7.26 on Tuesday. The stock has a market capitalization of $393.24 million and a P/E ratio of -1.78. The company has a 50 day moving average price of $9.59 and a 200 day moving average price of $10.02. Eikon Therapeutics has a fifty-two week low of $7.01 and a fifty-two week high of $17.40.

Eikon Therapeutics (NASDAQ:EIKN) last announced its earnings results on Thursday, August 13th. The company reported ($1.63) earnings per share for the quarter, missing the consensus estimate of ($1.61) by ($0.02). On average, research analysts forecast that Eikon Therapeutics will post -7.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Group Iv Gp Lp Column bought 89,200 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was purchased at an average cost of $11.56 per share, with a total value of $1,031,152.00. Following the purchase, the insider directly owned 89,200 shares of the company’s stock, valued at $1,031,152. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Eikon Therapeutics

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

About Eikon Therapeutics

Eikon Therapeutics is a biotechnology company focused on discovering and developing medicines using advanced single-molecule imaging, cell biology and computational technologies. Its platform is designed to track the behavior of proteins and other molecular targets in living cells, with the goal of improving the understanding of disease biology and identifying potential drug candidates.

The company is developing a pipeline of therapeutics, including investigational treatments in areas such as oncology and other serious diseases.