Eikon Therapeutics Jumps Ahead of Biotech Peers
• Eikon Therapeutics traded 5.1% higher at $9.91 late in the morning session on Nasdaq.• The average 12-month analyst price target, based on FactSet, ticked lower to $24.80.• Market focus remains on the latest ASCO cancer trial data, with investors still debating the risks around an early-stage biotech like Eikon, which has no products approved yet. Eikon Therapeutics shares gained 5.1% to $9.91 late Thursday morning, moving ahead of a firm biotech sector as the market looked at new analyst targets and cancer trial news from the recent IPO. The stock traded in a range of $9.37 to $10.06 on light volume, according to market data.