Eikon Therapeutics (NASDAQ:EIKN) Stock Rating Upgraded by Mizuho

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

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

Eikon Therapeutics Trading Down 1.4%

NASDAQ:EIKN opened at $10.71 on Monday. Eikon Therapeutics has a 12 month low of $7.90 and a 12 month high of $17.40. The stock has a market capitalization of $580.11 million and a price-to-earnings ratio of -2.62. The firm has a fifty day simple moving average of $10.55 and a two-hundred day simple moving average of $10.88.

Eikon Therapeutics (NASDAQ:EIKN) last issued its 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 analysts predict that Eikon Therapeutics will post -7.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Group Iv Gp Lp Column acquired 89,200 shares of the stock in a transaction dated Thursday, September 3rd. The stock was purchased at an average cost of $11.56 per share, with a total value of $1,031,152.00. Following the completion of the purchase, the insider directly owned 89,200 shares in the company, valued at $1,031,152. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in Eikon Therapeutics by 29.0% in 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 bought a new position in shares of Eikon Therapeutics during the 2nd quarter worth approximately $3,341,000. Comprehensive Financial Management LLC purchased a new position in shares of Eikon Therapeutics in the 2nd quarter worth approximately $1,517,000. Bank of New York Mellon Corp bought a new position in shares of Eikon Therapeutics in the second quarter valued at approximately $624,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Eikon Therapeutics by 23.5% during the second quarter. The Manufacturers Life Insurance Company now owns 35,357 shares of the company’s stock valued at $461,000 after acquiring an additional 6,734 shares during the last quarter.

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.