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

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

Several brokerages have recently commented on IKT. Oppenheimer started coverage on Inhibikase Therapeutics in a report on Wednesday, June 10th. They set an “outperform” rating and a $5.00 price objective for the company. Wall Street Zen lowered shares of Inhibikase Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday. LADENBURG THALM/SH SH raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, July 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Friday.

Inhibikase Therapeutics Stock Performance

Shares of IKT stock opened at $2.23 on Wednesday. Inhibikase Therapeutics has a 52-week low of $1.33 and a 52-week high of $2.36. The company has a market capitalization of $294.43 million, a PE ratio of -5.19 and a beta of 0.94. The business’s fifty day moving average is $1.84 and its 200 day moving average is $1.81.

Inhibikase Therapeutics (NASDAQ:IKT) last posted its earnings results on Tuesday, May 12th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). On average, sell-side analysts forecast that Inhibikase Therapeutics will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Inhibikase Therapeutics

A number of large investors have recently added to or reduced their stakes in IKT. Sands Capital Alternatives LLC increased its position in shares of Inhibikase Therapeutics by 18.9% during the 4th quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock valued at $26,689,000 after purchasing an additional 2,068,965 shares during the last quarter. Spruce Street Capital LP purchased a new stake in Inhibikase Therapeutics in the fourth quarter worth approximately $7,342,000. Seven Fleet Capital Management LP purchased a new stake in Inhibikase Therapeutics in the fourth quarter worth approximately $1,094,000. Sanctuary Advisors LLC bought a new position in Inhibikase Therapeutics during the fourth quarter valued at approximately $26,000. Finally, JPMorgan Chase & Co. grew its position in Inhibikase Therapeutics by 74.7% during the third quarter. JPMorgan Chase & Co. now owns 49,937 shares of the company’s stock valued at $81,000 after acquiring an additional 21,358 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, 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.