Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Given Average Rating of “Buy” by Brokerages

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has been given a consensus recommendation of “Buy” by the nine research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $5.40.

A number of research analysts recently weighed in on IKT shares. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Inhibikase Therapeutics in a research note on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Friday, July 17th. LADENBURG THALM/SH SH raised Inhibikase Therapeutics to a “strong-buy” rating in a report on Monday, July 13th. Wall Street Zen upgraded Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 26th. Finally, Oppenheimer initiated coverage on Inhibikase Therapeutics in a research note on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 price target on the stock.

Institutional Investors Weigh In On Inhibikase Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in IKT. Goldman Sachs Group Inc. grew its holdings in shares of Inhibikase Therapeutics by 277.7% during the first quarter. Goldman Sachs Group Inc. now owns 166,025 shares of the company’s stock worth $364,000 after buying an additional 122,073 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Inhibikase Therapeutics in the first quarter worth about $255,000. Geode Capital Management LLC lifted 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 buying an additional 741,940 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Inhibikase Therapeutics during the second quarter worth about $56,000. Finally, New York State Common Retirement Fund acquired a new position in Inhibikase Therapeutics during the second quarter worth about $118,000. Institutional investors and hedge funds own 3.81% of the company’s stock.

Inhibikase Therapeutics Stock Performance

Shares of NASDAQ IKT opened at $2.41 on Friday. The firm has a market cap of $336.29 million, a PE ratio of -5.60 and a beta of 0.95. The firm has a fifty day moving average of $2.05 and a 200 day moving average of $1.88. Inhibikase Therapeutics has a one year low of $1.33 and a one year high of $2.53.

Inhibikase Therapeutics (NASDAQ:IKT) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). On average, equities analysts predict that Inhibikase Therapeutics will post -0.42 EPS for the current fiscal 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.