Perlmutter-backed Eikon Therapeutics rises as IPO research quiet period ends

Eikon Therapeutics

02/03/2026 18:09

** Shares of drug developer Eikon ‍Therapeutics EIKN.O, headed by Merck veteran Roger Perlmutter, rise 3.9% to $14.31

** At least three Wall Street brokerages initiate coverage with bullish ratings as IPO research quiet period ends

** "EIKN’s portfolio, led by Keytruda ex-developers, is strategically positioned with two advanced assets through in-licenses and a homegrown pipeline built from its super resolution microscopy discovery engine," J.P. Morgan says

** Co's most advanced candidate, EIK1001, in combination with Keytruda, is in a mid- to late-stage study to treat a type of skin cancer

** EIKN went public in New York last month after selling 21.2 million shares in an IPO priced at $18 apiece

** J.P. Morgan, Morgan Stanley, BofA Securities, Cantor and Mizuho were underwriters for EIKN's offering

** As of last close, EIKN stock down 23% since February debut

Brokerage
Rating
PT
J.P. Morgan
Overweight
$29
BofA
Buy
$34
Mizuho
Outperform
$26

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))