Wall Street Zen cut shares of Inhibikase Therapeutics (NASDAQ:IKT – Free Report) from a sell rating to a strong sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.
A number of other research analysts have also issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Thursday, October 15th. Chardan Capital set a $1.50 target price on Inhibikase Therapeutics and gave the stock a “neutral” rating in a research note on Tuesday, October 13th. LADENBURG THALM/SH SH upgraded Inhibikase Therapeutics to a “strong-buy” rating in a report on Monday, July 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Inhibikase Therapeutics in a research report on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.75.
Get Our Latest Stock Report on Inhibikase Therapeutics
Inhibikase Therapeutics Price Performance
Shares of IKT stock opened at $1.54 on Friday. The firm has a 50 day moving average of $2.06 and a two-hundred day moving average of $1.93. Inhibikase Therapeutics has a 52 week low of $1.33 and a 52 week high of $2.61.
Inhibikase Therapeutics (NASDAQ:IKT – Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). As a group, analysts anticipate that Inhibikase Therapeutics will post -0.43 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abel Hall LLC lifted its holdings in Inhibikase Therapeutics by 15.0% during the 3rd quarter. Abel Hall LLC now owns 53,311 shares of the company’s stock worth $110,000 after buying an additional 6,959 shares during the last quarter. Spark Investment Management LLC acquired a new position in shares of Inhibikase Therapeutics during the 2nd quarter worth about $31,000. Seven Fleet Capital Management LP boosted its position in shares of Inhibikase Therapeutics by 6.5% during the 2nd quarter. Seven Fleet Capital Management LP now owns 346,900 shares of the company’s stock worth $704,000 after acquiring an additional 21,300 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Inhibikase Therapeutics during the 2nd quarter worth about $615,000. Finally, Bank of America Corp DE increased its holdings in shares of Inhibikase Therapeutics by 595.3% in the 1st quarter. Bank of America Corp DE now owns 322,704 shares of the company’s stock valued at $542,000 after acquiring an additional 276,293 shares during the last quarter. Institutional investors and hedge funds own 3.81% of the company’s stock.
Inhibikase Therapeutics Company Profile
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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