Eikon Therapeutics (NASDAQ:EIKN) Rating Increased to Strong-Buy at Mizuho

Mizuho upgraded shares of Eikon Therapeutics (NASDAQ:EIKN) to a strong-buy rating in a report issued on Monday,Zacks reports.

Several other research firms have also weighed in on EIKN. Wedbush decreased their price target on Eikon Therapeutics from $5.00 to $4.00 and set an “underperform” rating on the stock in a report on Friday, August 14th. Weiss Ratings upgraded Eikon Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a research report on Monday, August 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Eikon Therapeutics in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Eikon Therapeutics Price Performance

Shares of NASDAQ EIKN opened at $10.71 on Monday. Eikon Therapeutics has a 1-year low of $7.90 and a 1-year high of $17.40. The business’s 50 day moving average is $10.55 and its two-hundred day moving average is $10.88. The stock has a market capitalization of $580.11 million and a P/E ratio of -2.62.

Eikon Therapeutics (NASDAQ:EIKN) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.61) by ($0.02). As a group, equities research analysts anticipate that Eikon Therapeutics will post -7.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Group Iv Gp Lp Column acquired 89,200 shares of the stock in a transaction on Thursday, September 3rd. The stock was bought at an average cost of $11.56 per share, with a total value of $1,031,152.00. Following the transaction, the insider directly owned 89,200 shares in the company, valued at approximately $1,031,152. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Hedge Funds Weigh In On Eikon Therapeutics

A number of hedge funds have recently added to or reduced their stakes in EIKN. Legal & General Group Plc bought a new stake in shares of Eikon Therapeutics during the second quarter valued at approximately $28,000. California State Teachers Retirement System purchased a new stake in shares of Eikon Therapeutics in the second quarter valued at approximately $51,000. Integrated Wealth Concepts LLC bought a new position in Eikon Therapeutics in the second quarter worth approximately $142,000. Citadel Advisors LLC bought a new position in Eikon Therapeutics in the second quarter worth approximately $170,000. Finally, Deutsche Bank AG purchased a new position in Eikon Therapeutics during the 2nd quarter worth $281,000.

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.