Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Given Average Rating of “Buy” by Brokerages

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has been given an average recommendation of “Buy” by the eight ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have issued a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $5.50.

A number of research analysts have issued reports on IKT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Tuesday, April 21st. Lifesci Capital raised Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, LADENBURG THALM/SH SH started coverage on Inhibikase Therapeutics in a research note on Wednesday, March 4th. They issued a “buy” rating and a $4.00 price target for the company.

Inhibikase Therapeutics Stock Performance

IKT opened at $1.69 on Tuesday. The firm’s 50-day simple moving average is $1.80 and its 200-day simple moving average is $1.73. Inhibikase Therapeutics has a twelve month low of $1.33 and a twelve month high of $2.26. The firm has a market cap of $223.13 million, a price-to-earnings ratio of -3.93 and a beta of 0.96.

Inhibikase Therapeutics (NASDAQ:IKT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). As a group, sell-side analysts anticipate that Inhibikase Therapeutics will post -0.46 EPS for the current fiscal year.

Institutional Trading of Inhibikase Therapeutics

A number of large investors have recently bought and sold shares of IKT. BNP Paribas Financial Markets increased its stake 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 purchasing an additional 6,458 shares in the last quarter. SG Americas Securities LLC bought a new stake in Inhibikase Therapeutics during the 1st quarter worth approximately $26,000. Sanctuary Advisors LLC bought a new position in shares of Inhibikase Therapeutics during the 4th quarter worth approximately $26,000. Renaissance Technologies LLC bought a new position in shares of Inhibikase Therapeutics during the 1st quarter worth approximately $28,000. Finally, XTX Topco Ltd bought a new position in shares of Inhibikase Therapeutics during the 4th quarter worth approximately $42,000. 3.81% of the stock is owned by institutional investors.

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.