Eikon Therapeutics (NASDAQ:EIKN) Raised to “Strong-Buy” at Mizuho

Eikon Therapeutics (NASDAQ:EIKN) was upgraded by analysts at Mizuho to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

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

Eikon Therapeutics Stock Performance

EIKN opened at $8.60 on Wednesday. Eikon Therapeutics has a 52-week low of $7.90 and a 52-week high of $17.40. The firm has a market cap of $465.86 million and a P/E ratio of -2.10. The business’s fifty day moving average is $10.19 and its 200-day moving average is $10.62.

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

Insider Transactions at Eikon Therapeutics

In other Eikon Therapeutics news, major shareholder Group Iv Gp Lp Column bought 89,200 shares of the stock in a transaction on Thursday, September 3rd. The stock was 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. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Investors Weigh In On Eikon Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Eikon Therapeutics by 29.0% during the 2nd quarter. BlackRock Inc. now owns 4,281,425 shares of the company’s stock worth $55,873,000 after purchasing an additional 962,046 shares in the last quarter. Parkman Healthcare Partners LLC acquired a new stake in Eikon Therapeutics in the second quarter valued at approximately $3,341,000. Comprehensive Financial Management LLC acquired a new position in shares of Eikon Therapeutics during the second quarter worth $1,517,000. The Manufacturers Life Insurance Company bought a new position in shares of Eikon Therapeutics in the 2nd quarter valued at $461,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Eikon Therapeutics in the 2nd quarter valued at $142,000.

About Eikon Therapeutics

Eikon Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines by combining advanced live-cell imaging with drug discovery and development. The company’s platform is designed to track individual molecules and cellular processes in real time, providing researchers with detailed insight into how potential therapies work inside living cells.

Eikon applies this technology primarily to the development of treatments for serious diseases, including cancer and other conditions involving complex biological pathways.