Inhibikase Therapeutics (NASDAQ:IKT) Given “Neutral” Rating at Chardan Capital

Inhibikase Therapeutics (NASDAQ:IKT)‘s stock had its “neutral” rating restated by equities researchers at Chardan Capital in a report issued on Thursday, Benzinga reports. They presently have a $1.50 price objective on the stock. Chardan Capital‘s target price indicates a potential downside of 0.99% from the company’s current price.

Other equities analysts have also issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Inhibikase Therapeutics in a research note on Thursday. Wall Street Zen cut Inhibikase Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, October 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Thursday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Inhibikase Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $4.75.

Inhibikase Therapeutics Price Performance

Inhibikase Therapeutics stock traded down $0.12 during trading hours on Thursday, hitting $1.51. The company had a trading volume of 347,881 shares, compared to its average volume of 1,048,344. The firm has a market cap of $211.40 million, a PE ratio of -3.79 and a beta of 0.94. Inhibikase Therapeutics has a one year low of $1.40 and a one year high of $2.61. The firm has a 50-day moving average of $1.94 and a 200 day moving average of $1.93.

Inhibikase Therapeutics (NASDAQ:IKT) last issued its quarterly earnings data on Tuesday, November 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. As a group, research analysts expect that Inhibikase Therapeutics will post -0.43 earnings per share for the current year.

Institutional Investors Weigh In On Inhibikase Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kalehua Capital Management LLC boosted its stake in shares of Inhibikase Therapeutics by 118.4% in the first quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company’s stock valued at $6,421,000 after buying an additional 2,071,890 shares during the period. SummitTX Capital L.P. bought a new position in Inhibikase Therapeutics during the 1st quarter worth $2,561,000. Ally Bridge Group NY LLC bought a new position in Inhibikase Therapeutics during the 1st quarter worth $2,226,000. Seven Fleet Capital Management LP raised its holdings in Inhibikase Therapeutics by 6.5% in the 2nd quarter. Seven Fleet Capital Management LP now owns 346,900 shares of the company’s stock valued at $704,000 after acquiring an additional 21,300 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Inhibikase Therapeutics by 595.3% in the 1st quarter. Bank of America Corp DE now owns 322,704 shares of the company’s stock valued at $542,000 after acquiring an additional 276,293 shares in the last quarter. 3.81% of the stock is currently owned by institutional investors and hedge funds.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing treatments for Parkinson’s disease and other neurodegenerative disorders. The company’s research centers on small-molecule inhibitors of Abelson tyrosine kinase, or c-Abl, a protein it is investigating for its role in neurodegeneration. Its pipeline has included IKT-148009, an oral c-Abl inhibitor being developed for Parkinson’s disease. Inhibikase is based in Atlanta, Georgia, and conducts research and development in the pharmaceutical biotechnology sector.