Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Receives $5.50 Consensus PT from Brokerages

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has been assigned an average recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $5.50.

Several analysts have issued reports on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, March 4th. They issued a “buy” rating and a $4.00 target price on the stock. Wall Street Zen upgraded shares of Inhibikase Therapeutics to a “sell” rating in a research note on Saturday, December 27th. Lifesci Capital upgraded shares of Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, February 23rd. Jefferies Financial Group reiterated a “buy” rating on shares of Inhibikase Therapeutics in a research note on Monday, December 29th. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Inhibikase Therapeutics in a research note on Friday, December 26th.

Inhibikase Therapeutics Stock Performance

IKT opened at $1.70 on Monday. The company has a 50 day moving average of $1.79 and a 200 day moving average of $1.68. The company has a market cap of $224.45 million, a PE ratio of -3.54 and a beta of 0.86. Inhibikase Therapeutics has a 12 month low of $1.33 and a 12 month high of $2.37.

Inhibikase Therapeutics (NASDAQ:IKT) last released its quarterly earnings data on Thursday, March 26th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.03.

Institutional Trading of Inhibikase Therapeutics

Hedge funds have recently made changes to their positions in the stock. Seven Fleet Capital Management LP purchased a new position in Inhibikase Therapeutics in the 4th quarter worth $1,094,000. Virtu Financial LLC raised its position in Inhibikase Therapeutics by 70.1% in the 4th quarter. Virtu Financial LLC now owns 22,869 shares of the company’s stock worth $47,000 after purchasing an additional 9,423 shares during the period. ADAR1 Capital Management LLC raised its position in Inhibikase Therapeutics by 53.7% in the 4th quarter. ADAR1 Capital Management LLC now owns 8,063,949 shares of the company’s stock worth $16,531,000 after purchasing an additional 2,816,346 shares during the period. XTX Topco Ltd purchased a new position in Inhibikase Therapeutics in the 4th quarter worth $42,000. Finally, Squadron Capital Management LLC purchased a new position in Inhibikase Therapeutics in the 4th quarter worth $8,661,000. 3.81% of the stock is owned by institutional investors.

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.