Inhibikase Therapeutics (NYSE:IKT) Earns Buy Rating from HC Wainwright

Inhibikase Therapeutics (NYSE:IKT)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a note issued to investors on Friday, MarketBeat.com reports. They presently have a $8.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 300.00% from the stock’s current price.

Separately, Cantor Fitzgerald initiated coverage on Inhibikase Therapeutics in a report on Thursday, December 11th. They issued an “overweight” rating and a $4.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $6.00.

Inhibikase Therapeutics Price Performance

NYSE:IKT opened at $2.00 on Friday. The company has a market cap of $150.35 million, a PE ratio of -0.75 and a beta of 0.88. Inhibikase Therapeutics has a one year low of $1.33 and a one year high of $3.49. The firm has a 50-day moving average of $1.56 and a 200-day moving average of $1.67.

Institutional Investors Weigh In On Inhibikase Therapeutics

Hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its stake in Inhibikase Therapeutics by 277.7% in the first quarter. Goldman Sachs Group Inc. now owns 166,025 shares of the company’s stock worth $364,000 after purchasing an additional 122,073 shares during the last quarter. ADAR1 Capital Management LLC increased its holdings in shares of Inhibikase Therapeutics by 0.4% in the first quarter. ADAR1 Capital Management LLC now owns 5,122,105 shares of the company’s stock worth $11,217,000 after buying an additional 19,100 shares during the period. Citadel Advisors LLC purchased a new stake in Inhibikase Therapeutics during the 3rd quarter valued at about $116,000. BNP Paribas Financial Markets grew its position in Inhibikase Therapeutics by 70.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock worth $25,000 after acquiring an additional 6,458 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Inhibikase Therapeutics by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,273,339 shares of the company’s stock worth $5,303,000 after purchasing an additional 48,969 shares during the period. 3.81% of the stock is currently owned by institutional investors.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc is a clinical-stage biopharmaceutical company engaged in the discovery and development of small-molecule kinase inhibitors for rare neurodegenerative diseases. Headquartered in New Haven, Connecticut, the company focuses on advancing therapies for central nervous system disorders with high unmet medical need. Its research platform targets key signaling pathways implicated in neuronal survival and degeneration.

The company’s lead investigational candidate, IKT-148009, is a brain-penetrant inhibitor of PDK1 and ABL kinases.