Inhibikase Therapeutics (NASDAQ:IKT) Now Covered by Oppenheimer

Investment analysts at Oppenheimer started coverage on shares of Inhibikase Therapeutics (NASDAQ:IKT) in a report released on Wednesday. The firm set an “outperform” rating and a $5.00 price target on the stock. Oppenheimer’s price target suggests a potential upside of 199.40% from the company’s current price.

A number of other equities research analysts have also recently commented on IKT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Tuesday, April 21st. LADENBURG THALM/SH SH assumed coverage on shares of Inhibikase Therapeutics in a research report on Wednesday, March 4th. They set a “buy” rating and a $4.00 price target on the stock. Finally, Lifesci Capital raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, February 23rd. Four research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $5.40.

Inhibikase Therapeutics Stock Performance

Inhibikase Therapeutics stock opened at $1.67 on Wednesday. The stock has a 50-day moving average of $1.77 and a two-hundred day moving average of $1.74. Inhibikase Therapeutics has a one year low of $1.33 and a one year high of $2.26. The stock has a market cap of $220.49 million, a PE ratio of -3.88 and a beta of 0.92.

Inhibikase Therapeutics (NASDAQ:IKT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). As a group, sell-side analysts predict that Inhibikase Therapeutics will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Inhibikase Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of IKT. BNP Paribas Financial Markets increased its position in Inhibikase Therapeutics by 70.3% during the third quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock worth $25,000 after purchasing an additional 6,458 shares during the last quarter. SG Americas Securities LLC acquired a new position in Inhibikase Therapeutics in the 1st quarter valued at about $26,000. Sanctuary Advisors LLC purchased a new stake in shares of Inhibikase Therapeutics in the 4th quarter valued at approximately $26,000. Renaissance Technologies LLC purchased a new stake in shares of Inhibikase Therapeutics in the 1st quarter valued at approximately $28,000. Finally, XTX Topco Ltd acquired a new stake in shares of Inhibikase Therapeutics during the 4th quarter worth approximately $42,000. 3.81% of the stock is currently owned by institutional investors and hedge funds.

About Inhibikase Therapeutics

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.