Eikon Therapeutics, Inc. (NASDAQ:EIKN) Given Average Rating of “Hold” by Brokerages

Shares of Eikon Therapeutics, Inc. (NASDAQ:EIKN) have received a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $25.00.

EIKN has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Eikon Therapeutics in a report on Friday. Weiss Ratings upgraded shares of Eikon Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, August 3rd. Finally, Wedbush dropped their target price 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, August 14th.

Eikon Therapeutics Price Performance

Shares of NASDAQ:EIKN opened at $11.39 on Monday. Eikon Therapeutics has a 1 year low of $7.90 and a 1 year high of $17.40. The company has a 50-day simple moving average of $10.33. The firm has a market cap of $617.00 million and a P/E ratio of -2.78.

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

Hedge Funds Weigh In On Eikon Therapeutics

Several institutional investors have recently made changes to their positions in EIKN. Bank of New York Mellon Corp acquired a new position in shares of Eikon Therapeutics during the second quarter valued at about $624,000. Deutsche Bank AG acquired a new stake in shares of Eikon Therapeutics in the 2nd quarter valued at about $281,000. BlackRock Inc. increased its position in Eikon Therapeutics by 29.0% in the 2nd quarter. BlackRock Inc. now owns 4,281,425 shares of the company’s stock valued at $55,873,000 after buying an additional 962,046 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Eikon Therapeutics by 23.5% in 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. Finally, Legal & General Group Plc acquired a new position in Eikon Therapeutics during the 2nd quarter worth approximately $28,000.

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.