Eikon Therapeutics initiated with a Buy at BofA

BofA analyst Jason Zemansky initiated coverage of Eikon Therapeutics (EIKN) with a Buy rating and $34 price target The firm believes the drug developer’s discovery platform, which it describes as a proprietary, high-resolution microscope capable of visualizing proteins in living cells, offers “an unrivaled ability to generate novel, differentiated drug candidates.” The firm thinks the market may be overlooking the company’s potential to drive value creation via the ability to produce pipeline candidates for internal development or out-licensing, the analyst added.