Wedbush Has Lowered Expectations for EIKN (NASDAQ:EIKN) Stock Price

EIKN (NASDAQ:EIKN) had its price target reduced by investment analysts at Wedbush from $7.00 to $5.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Wedbush’s price target points to a potential downside of 49.75% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald initiated coverage on shares of EIKN in a research note on Monday, March 2nd. They set an “overweight” rating for the company. Wall Street Zen cut shares of EIKN from a “hold” rating to a “sell” rating in a report on Sunday, April 5th. Zacks Research upgraded shares of EIKN to a “hold” rating in a report on Friday, February 27th. JPMorgan Chase & Co. began coverage on shares of EIKN in a report on Monday, March 2nd. They set an “overweight” rating and a $29.00 target price for the company. Finally, Bank of America initiated coverage on shares of EIKN in a research note on Monday, March 2nd. They issued a “buy” rating and a $34.00 price target for the company. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.20.

EIKN Stock Down 0.1%

EIKN opened at $9.95 on Tuesday. The business’s 50 day simple moving average is $11.13. EIKN has a fifty-two week low of $7.90 and a fifty-two week high of $17.40.

EIKN (NASDAQ:EIKN) last posted its quarterly earnings results on Monday, March 30th. The company reported ($26.23) earnings per share for the quarter.

About EIKN

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.