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

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

EIKN has been the topic of a number of other research reports. Wedbush lowered their target price 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. Weiss Ratings raised Eikon Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, August 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Eikon Therapeutics in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Eikon Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Eikon Therapeutics Stock Up 1.1%

Shares of NASDAQ:EIKN opened at $8.60 on Wednesday. The firm has a fifty day moving average of $10.19 and a two-hundred day moving average of $10.62. The firm has a market capitalization of $465.86 million and a P/E ratio of -2.10. Eikon Therapeutics has a 12-month low of $7.90 and a 12-month high of $17.40.

Eikon Therapeutics (NASDAQ:EIKN) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.63) EPS for the quarter, missing the consensus estimate of ($1.61) by ($0.02). Equities research analysts expect 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 bought 89,200 shares of Eikon Therapeutics stock in a transaction that occurred on Thursday, September 3rd. The stock was purchased at an average cost of $11.56 per share, for a total transaction of $1,031,152.00. Following the acquisition, the insider owned 89,200 shares in the company, valued at $1,031,152. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Eikon Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EIKN. The Manufacturers Life Insurance Company bought a new position in shares of Eikon Therapeutics in the second quarter valued at approximately $461,000. Integrated Wealth Concepts LLC bought a new stake in shares of Eikon Therapeutics during the 2nd quarter worth $142,000. Citadel Advisors LLC acquired a new position in Eikon Therapeutics in the 2nd quarter valued at $170,000. Comprehensive Financial Management LLC acquired a new position in Eikon Therapeutics in the 2nd quarter valued at $1,517,000. Finally, Parkman Healthcare Partners LLC acquired a new position in Eikon Therapeutics during the 2nd quarter worth $3,341,000.

Eikon Therapeutics Company Profile

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.