Oppenheimer began coverage on shares of Inhibikase Therapeutics (NASDAQ:IKT – Get Free Report) in a research report issued to clients and investors on Wednesday. The brokerage set an “outperform” rating and a $5.00 price target on the stock. Oppenheimer’s price target suggests a potential upside of 199.40% from the stock’s current price.
Other equities analysts have also issued research reports about the company. Lifesci Capital upgraded Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, February 23rd. LADENBURG THALM/SH SH began coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, March 4th. They issued a “buy” rating and a $4.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Tuesday, April 21st. Four research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $5.40.
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Inhibikase Therapeutics Stock Performance
Inhibikase Therapeutics (NASDAQ:IKT – Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). Analysts forecast that Inhibikase Therapeutics will post -0.42 earnings per share for the current year.
Hedge Funds Weigh In On Inhibikase Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Inhibikase Therapeutics by 277.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 166,025 shares of the company’s stock valued at $364,000 after buying an additional 122,073 shares in the last quarter. Barclays PLC grew its position in shares of Inhibikase Therapeutics by 10.8% in the 4th quarter. Barclays PLC now owns 94,795 shares of the company’s stock worth $194,000 after buying an additional 9,217 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Inhibikase Therapeutics by 48.3% during the 4th quarter. Wells Fargo & Company MN now owns 67,833 shares of the company’s stock worth $139,000 after acquiring an additional 22,088 shares in the last quarter. Invesco Ltd. purchased a new stake in Inhibikase Therapeutics during the second quarter valued at approximately $60,000. Finally, XTX Topco Ltd purchased a new stake in Inhibikase Therapeutics during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 3.81% of the company’s stock.
About Inhibikase Therapeutics
Inhibikase Therapeutics, Inc, a clinical stage pharmaceutical company, develops therapeutics for Parkinson’s Disease (PD) and related disorders that arise inside and outside of the brain. The company’s product candidates include IkT-148009, a small molecule Abelson tyrosine kinase inhibitor for use in the treatment of PD, as well as gastrointestinal complications that arise as early symptoms of PD, such as swallowing, dysphagia, neurogenic constipation, and multiple system atrophy; and IkT-001Pro, a prodrug of the anti-cancer agent Imatinib that is in preclinical development to minimize gastrointestinal side effects and for the treatment of blood and stomach cancers.
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