Eikon Therapeutics, Inc. (NASDAQ:EIKN) Stock Has Consensus Target Price of $24.67

Shares of Eikon Therapeutics, Inc. (NASDAQ:EIKN) have earned a consensus rating of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $24.67.

A number of research analysts have issued reports on the company. Mizuho upgraded Eikon Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 16th. HC Wainwright initiated coverage on shares of Eikon Therapeutics in a report on Friday, October 16th. They issued a “buy” rating and a $23.00 target price for the company. 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. Cantor Fitzgerald restated an “overweight” rating on shares of Eikon Therapeutics in a research note on Friday, August 21st. Finally, Wedbush decreased their price target on shares of Eikon Therapeutics from $5.00 to $4.00 and set an “underperform” rating on the stock in a report on Friday, August 14th.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EIKN. BlackRock Inc. boosted its holdings in shares of Eikon Therapeutics by 29.0% during the 2nd 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 in the last quarter. Regents of The University of California bought a new position in Eikon Therapeutics in the third quarter valued at about $5,106,000. State Street Corp bought a new position in Eikon Therapeutics in the second quarter valued at about $4,621,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Eikon Therapeutics during the second quarter valued at about $3,341,000. Finally, Comprehensive Financial Management LLC acquired a new stake in shares of Eikon Therapeutics during the second quarter valued at about $1,517,000.

Eikon Therapeutics Trading Up 8.8%

Shares of EIKN opened at $6.67 on Friday. Eikon Therapeutics has a 52-week low of $5.01 and a 52-week high of $17.40. The business’s fifty day moving average is $7.73 and its 200-day moving average is $10.09.

Eikon Therapeutics (NASDAQ:EIKN) last announced its quarterly earnings data 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). Research analysts forecast that Eikon Therapeutics will post -7.12 earnings per share for the current year.

Eikon Therapeutics Company Profile

Eikon Therapeutics is a biopharmaceutical company focused on discovering and developing medicines for serious diseases, including cancer. The company uses advanced imaging, computational biology and drug-discovery methods to study how proteins behave in living cells and identify potential therapeutic targets. Founded in 2019 by Roger Perlmutter, a former head of Merck Research Laboratories, Eikon is based in California. Its work is centered on research and development; the company is not known for marketed medicines.