Inhibikase Therapeutics (NASDAQ:IKT) Rating Lowered to Strong Sell at Wall Street Zen

Inhibikase Therapeutics (NASDAQ:IKT) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

Other analysts also recently issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Tuesday, April 21st. LADENBURG THALM/SH SH raised Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Oppenheimer initiated coverage on Inhibikase Therapeutics in a report on Wednesday, June 10th. They set an “outperform” rating and a $5.00 price target for the company. Four research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Inhibikase Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $5.40.

Inhibikase Therapeutics Price Performance

Inhibikase Therapeutics stock opened at $2.11 on Friday. The firm has a market cap of $278.58 million, a price-to-earnings ratio of -4.91 and a beta of 0.94. Inhibikase Therapeutics has a fifty-two week low of $1.33 and a fifty-two week high of $2.36. The firm has a fifty day moving average price of $1.83 and a two-hundred day moving average price of $1.81.

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, meeting the consensus estimate of ($0.10). As a group, sell-side analysts expect that Inhibikase Therapeutics will post -0.42 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of Inhibikase Therapeutics by 595.3% during the first quarter. Bank of America Corp DE now owns 322,704 shares of the company’s stock valued at $542,000 after buying an additional 276,293 shares during the last quarter. Ally Bridge Group NY LLC bought a new stake in shares of Inhibikase Therapeutics in the first quarter valued at about $2,226,000. The Manufacturers Life Insurance Company acquired a new stake in Inhibikase Therapeutics during the first quarter worth about $48,000. SummitTX Capital L.P. acquired a new stake in Inhibikase Therapeutics during the first quarter worth about $2,561,000. Finally, Kalehua Capital Management LLC grew its position in Inhibikase Therapeutics by 118.4% during the first quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company’s stock worth $6,421,000 after buying an additional 2,071,890 shares in the last quarter. Institutional investors own 3.81% of the company’s stock.

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.