Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Stock Has Average Target Price of $5.40 According to Brokerages

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has been assigned an average rating of “Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $5.40.

IKT has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Friday, July 17th. LADENBURG THALM/SH SH raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, July 13th. Oppenheimer started coverage on shares of Inhibikase Therapeutics in a report on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 price objective on the stock. Wall Street Zen raised shares of Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Inhibikase Therapeutics in a report on Friday, July 31st.

Hedge Funds Weigh In On Inhibikase Therapeutics

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Inhibikase Therapeutics during the first quarter valued at approximately $26,000. Renaissance Technologies LLC bought a new stake in Inhibikase Therapeutics in the first quarter valued at approximately $28,000. Spark Investment Management LLC acquired a new stake in Inhibikase Therapeutics in the second quarter worth $31,000. The Manufacturers Life Insurance Company acquired a new stake in Inhibikase Therapeutics in the first quarter worth $48,000. Finally, Sei Investments Co. bought a new position in shares of Inhibikase Therapeutics during the first quarter worth $81,000. 3.81% of the stock is currently owned by institutional investors and hedge funds.

Inhibikase Therapeutics Stock Up 2.0%

Shares of IKT opened at $2.06 on Monday. Inhibikase Therapeutics has a 12-month low of $1.33 and a 12-month high of $2.61. The firm has a market capitalization of $287.45 million, a PE ratio of -4.79 and a beta of 0.95. The stock’s fifty day simple moving average is $2.34 and its 200-day simple moving average is $2.01.

Inhibikase Therapeutics (NASDAQ:IKT) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Analysts anticipate that Inhibikase Therapeutics will post -0.45 EPS for the current year.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for diseases associated with abnormal protein accumulation and misfolding. The company’s research is centered primarily on neurodegenerative disorders involving alpha-synuclein, a protein implicated in Parkinson’s disease and related conditions.

Inhibikase’s lead investigational product, IkT-148009, is an orally administered, brain-penetrant Abelson tyrosine kinase inhibitor.