Inhibikase Therapeutics, Inc. (NASDAQ:IKT – Get Free Report) has received an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $4.75.
Several research analysts have recently issued reports on IKT shares. LADENBURG THALM/SH SH upgraded Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Thursday, October 15th. Wall Street Zen raised shares of Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 26th. Chardan Capital set a $1.50 price target on shares of Inhibikase Therapeutics and gave the company a “neutral” rating in a research report on Tuesday, October 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of Inhibikase Therapeutics in a report on Friday, July 31st.
Read Our Latest Stock Report on IKT
Inhibikase Therapeutics Stock Performance
NASDAQ:IKT opened at $1.57 on Friday. The company’s 50-day simple moving average is $2.12 and its 200-day simple moving average is $1.94. The stock has a market capitalization of $219.07 million, a P/E ratio of -3.65 and a beta of 0.89. Inhibikase Therapeutics has a fifty-two week low of $1.33 and a fifty-two week high of $2.61.
Inhibikase Therapeutics (NASDAQ:IKT – Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). On average, research analysts forecast that Inhibikase Therapeutics will post -0.43 EPS for the current year.
Institutional Investors Weigh In On Inhibikase Therapeutics
Hedge funds have recently modified their holdings of the company. Kalehua Capital Management LLC raised its position in shares of Inhibikase Therapeutics by 118.4% during the 1st quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company’s stock valued at $6,421,000 after buying an additional 2,071,890 shares during the period. SummitTX Capital L.P. purchased a new stake in Inhibikase Therapeutics during the first quarter worth about $2,561,000. Ally Bridge Group NY LLC purchased a new position in Inhibikase Therapeutics in the 1st quarter valued at approximately $2,226,000. Bank of New York Mellon Corp purchased a new position in Inhibikase Therapeutics in the second quarter valued at $615,000. Finally, Bank of America Corp DE grew its stake in Inhibikase Therapeutics by 595.3% during the 1st quarter. Bank of America Corp DE now owns 322,704 shares of the company’s stock worth $542,000 after purchasing an additional 276,293 shares in the last quarter. Hedge funds and other institutional investors own 3.81% of the company’s stock.
About Inhibikase Therapeutics
Inhibikase Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule therapies for neurodegenerative diseases. The company’s research is based on the role of Abelson tyrosine kinase, or c-Abl, and related disease mechanisms involved in the formation and spread of abnormal proteins associated with neurological disorders.
Its lead investigational product, IKT-148009, is an orally administered, brain-penetrant c-Abl inhibitor being developed as a potential disease-modifying treatment for Parkinson’s disease and related synucleinopathies.
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