Inhibikase Therapeutics (NASDAQ:IKT) Upgraded to “Hold” at Chardan Capital

Inhibikase Therapeutics (NASDAQ:IKT) was upgraded by research analysts at Chardan Capital to a “hold” rating in a research note issued on Tuesday, Zacks reports.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen upgraded Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Inhibikase Therapeutics in a research note on Friday, July 31st. Finally, LADENBURG THALM/SH SH raised Inhibikase Therapeutics to a “strong-buy” rating in a report on Monday, July 13th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Inhibikase Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $4.75.

Inhibikase Therapeutics Stock Down 4.6%

Inhibikase Therapeutics stock opened at $1.76 on Tuesday. The firm’s 50 day simple moving average is $2.28 and its 200 day simple moving average is $2.02. Inhibikase Therapeutics has a 1-year low of $1.33 and a 1-year high of $2.61.

Inhibikase Therapeutics (NASDAQ:IKT) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). As a group, analysts predict that Inhibikase Therapeutics will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Inhibikase Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of IKT. Kalehua Capital Management LLC grew its holdings in Inhibikase Therapeutics by 118.4% in the first quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company’s stock worth $6,421,000 after purchasing an additional 2,071,890 shares during the period. SummitTX Capital L.P. purchased a new position in shares of Inhibikase Therapeutics during the first quarter valued at approximately $2,561,000. Ally Bridge Group NY LLC purchased a new position in shares of Inhibikase Therapeutics during the first quarter valued at approximately $2,226,000. Seven Fleet Capital Management LP purchased a new position in shares of Inhibikase Therapeutics during the fourth quarter valued at approximately $1,094,000. Finally, Bank of America Corp DE lifted its holdings 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 purchasing an additional 276,293 shares during the last quarter. Hedge funds and other institutional investors own 3.81% of the company’s stock.

Inhibikase Therapeutics Company Profile

Inhibikase Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule therapies for diseases associated with abnormal protein accumulation. The company’s research has centered on neurological disorders, including Parkinson’s disease and related synucleinopathies, as well as selected infectious and cancer-related indications.

Its lead investigational product, IkT-148009, is an orally administered, brain-penetrant inhibitor of Abelson tyrosine kinase, or c-Abl.