Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Receives Average Recommendation of “Buy” from Analysts

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has received an average recommendation of “Buy” from the nine brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and four have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $5.40.

A number of analysts have recently commented on the company. LADENBURG THALM/SH SH raised Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday. Oppenheimer assumed coverage on Inhibikase Therapeutics in a research note on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Tuesday, April 21st.

Hedge Funds Weigh In On Inhibikase Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in IKT. BNP Paribas Financial Markets raised its position in shares of Inhibikase Therapeutics by 70.3% during the third 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. Barclays PLC lifted its stake in shares of Inhibikase Therapeutics by 10.8% in the fourth quarter. Barclays PLC now owns 94,795 shares of the company’s stock worth $194,000 after acquiring an additional 9,217 shares during the period. Virtu Financial LLC boosted its holdings in Inhibikase Therapeutics by 70.1% in the fourth quarter. Virtu Financial LLC now owns 22,869 shares of the company’s stock valued at $47,000 after acquiring an additional 9,423 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Inhibikase Therapeutics in the fourth quarter valued at approximately $26,000. Finally, SG Americas Securities LLC acquired a new stake in Inhibikase Therapeutics during the 1st quarter valued at approximately $26,000. 3.81% of the stock is currently owned by institutional investors and hedge funds.

Inhibikase Therapeutics Stock Performance

Shares of IKT opened at $2.06 on Wednesday. Inhibikase Therapeutics has a 52 week low of $1.33 and a 52 week high of $2.36. The stock has a market capitalization of $271.98 million, a price-to-earnings ratio of -4.79 and a beta of 0.94. The stock has a fifty day moving average of $1.82 and a 200-day moving average of $1.80.

Inhibikase Therapeutics (NASDAQ:IKT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). As a group, equities analysts forecast 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.