Eikon Therapeutics, Inc. (NASDAQ:EIKN) Receives $25.00 Average Price Target from Analysts

Shares of Eikon Therapeutics, Inc. (NASDAQ:EIKN) have been given an average recommendation of “Hold” by the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $25.00.

EIKN has been the topic of several research reports. Wedbush lowered their price target on Eikon Therapeutics from $5.00 to $4.00 and set an “underperform” rating on the stock in a research note on Friday, August 14th. Cantor Fitzgerald reissued 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.

Hedge Funds Weigh In On Eikon Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in EIKN. BlackRock Inc. increased its stake in Eikon Therapeutics by 29.0% in the second quarter. BlackRock Inc. now owns 4,281,425 shares of the company’s stock valued at $55,873,000 after acquiring an additional 962,046 shares during the period. Parkman Healthcare Partners LLC acquired a new position in Eikon Therapeutics in the second quarter worth about $3,341,000. Comprehensive Financial Management LLC bought a new position in Eikon Therapeutics during the second quarter worth about $1,517,000. Bank of New York Mellon Corp bought a new position in Eikon Therapeutics during the second quarter worth about $624,000. Finally, Deutsche Bank AG acquired a new stake in Eikon Therapeutics during the second quarter valued at approximately $281,000.

Eikon Therapeutics Stock Performance

Shares of Eikon Therapeutics stock opened at $10.98 on Monday. Eikon Therapeutics has a 1 year low of $7.90 and a 1 year high of $17.40. The business has a fifty day moving average of $10.55. The firm has a market capitalization of $594.73 million and a P/E ratio of -2.68.

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

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.