Analysts Set Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Price Target at $5.40

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has been assigned an average rating of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and four have given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $5.40.

IKT has been the subject of several research analyst reports. LADENBURG THALM/SH SH began coverage on Inhibikase Therapeutics in a research note on Wednesday, March 4th. They set a “buy” rating and a $4.00 target price for the company. Oppenheimer began coverage on Inhibikase Therapeutics in a report on Wednesday, June 10th. They set an “outperform” rating and a $5.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Tuesday, April 21st.

Institutional Trading of Inhibikase Therapeutics

A number of hedge funds have recently bought and sold shares of IKT. Sands Capital Alternatives LLC increased its holdings in shares of Inhibikase Therapeutics by 18.9% during the 4th quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock worth $26,689,000 after buying an additional 2,068,965 shares during the last quarter. Spruce Street Capital LP acquired a new stake in shares of Inhibikase Therapeutics during the 4th quarter worth approximately $7,342,000. Seven Fleet Capital Management LP acquired a new stake in shares of Inhibikase Therapeutics during the 4th quarter worth approximately $1,094,000. Sanctuary Advisors LLC acquired a new stake in shares of Inhibikase Therapeutics during the 4th quarter worth approximately $26,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Inhibikase Therapeutics by 74.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 49,937 shares of the company’s stock worth $81,000 after buying an additional 21,358 shares during the last quarter. Institutional investors and hedge funds own 3.81% of the company’s stock.

Inhibikase Therapeutics Price Performance

IKT opened at $1.87 on Friday. The firm has a fifty day moving average price of $1.78 and a 200 day moving average price of $1.76. Inhibikase Therapeutics has a 1 year low of $1.33 and a 1 year high of $2.26. The stock has a market cap of $246.90 million, a P/E ratio of -4.35 and a beta of 0.92.

Inhibikase Therapeutics (NASDAQ:IKT) last announced its earnings results on Tuesday, May 12th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). Equities analysts expect that Inhibikase Therapeutics will post -0.4 EPS for the current year.

Inhibikase Therapeutics Company Profile

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.