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

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has been assigned an average recommendation of “Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and three have issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $5.40.

A number of research firms 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 target for the company. Wall Street Zen upgraded Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Friday, July 17th. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of Inhibikase Therapeutics in a report on Friday, July 31st. Finally, LADENBURG THALM/SH SH upgraded shares of Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, July 13th.

Inhibikase Therapeutics Stock Performance

IKT stock opened at $2.00 on Monday. The company has a market capitalization of $279.08 million, a PE ratio of -4.65 and a beta of 0.89. Inhibikase Therapeutics has a 52 week low of $1.33 and a 52 week high of $2.61. The company’s 50-day simple moving average is $2.33 and its 200 day simple moving average is $2.01.

Inhibikase Therapeutics (NASDAQ:IKT) last announced its earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). On average, analysts forecast that Inhibikase Therapeutics will post -0.45 EPS for the current year.

Hedge Funds Weigh In On Inhibikase Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sands Capital Alternatives LLC increased its holdings in shares of Inhibikase Therapeutics by 18.9% during the fourth quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock worth $26,689,000 after buying an additional 2,068,965 shares in the last quarter. Kalehua Capital Management LLC grew its position in Inhibikase Therapeutics by 118.4% during the 1st quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company’s stock worth $6,421,000 after acquiring an additional 2,071,890 shares during the last quarter. Spruce Street Capital LP acquired a new position in Inhibikase Therapeutics in the 4th quarter worth about $7,342,000. SummitTX Capital L.P. bought a new position in Inhibikase Therapeutics in the first quarter valued at about $2,561,000. Finally, Ally Bridge Group NY LLC acquired a new stake in shares of Inhibikase Therapeutics during the first quarter valued at about $2,226,000. Institutional investors own 3.81% of the company’s stock.

Inhibikase Therapeutics Company Profile

Inhibikase Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule therapies for diseases associated with abnormal protein accumulation. The company’s research has centered on neurological disorders, including Parkinson’s disease and related synucleinopathies, as well as selected infectious and cancer-related indications.

Its lead investigational product, IkT-148009, is an orally administered, brain-penetrant inhibitor of Abelson tyrosine kinase, or c-Abl.