Inhibikase Therapeutics (NASDAQ:IKT) Upgraded at Wall Street Zen

Inhibikase Therapeutics (NASDAQ:IKT) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Sunday.

Other analysts also recently issued reports about the company. LADENBURG THALM/SH SH upgraded Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, July 13th. Oppenheimer started coverage on Inhibikase Therapeutics in a research note on Wednesday, June 10th. They set an “outperform” rating and a $5.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Friday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $5.40.

Inhibikase Therapeutics Price Performance

Shares of NASDAQ:IKT opened at $2.33 on Friday. The company has a market capitalization of $307.63 million, a price-to-earnings ratio of -5.42 and a beta of 0.94. The business’s 50-day moving average is $1.86 and its 200-day moving average is $1.82. Inhibikase Therapeutics has a 1 year low of $1.33 and a 1 year high of $2.53.

Inhibikase Therapeutics (NASDAQ:IKT) last issued its 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). Analysts anticipate that Inhibikase Therapeutics will post -0.42 EPS for the current year.

Institutional Investors Weigh In On Inhibikase Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in IKT. Goldman Sachs Group Inc. boosted its stake in Inhibikase Therapeutics by 277.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 166,025 shares of the company’s stock valued at $364,000 after purchasing an additional 122,073 shares during the last quarter. Jane Street Group LLC bought a new stake in Inhibikase Therapeutics during the 1st quarter worth approximately $255,000. Geode Capital Management LLC raised its stake in shares of Inhibikase Therapeutics by 228.5% in the second quarter. Geode Capital Management LLC now owns 1,066,700 shares of the company’s stock worth $2,080,000 after purchasing an additional 741,940 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Inhibikase Therapeutics in the second quarter worth approximately $56,000. Finally, New York State Common Retirement Fund bought a new position in shares of Inhibikase Therapeutics in the second quarter valued at approximately $118,000. Institutional investors and hedge funds own 3.81% of the company’s stock.

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.