Inhibikase Therapeutics’ (IKT) “Buy” Rating Reiterated at HC Wainwright

Inhibikase Therapeutics (NASDAQ:IKT)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $8.00 target price on the stock. HC Wainwright‘s price target indicates a potential upside of 390.80% from the stock’s current price.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Inhibikase Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Thursday, October 15th. Finally, Chardan Capital set a $1.50 price objective on Inhibikase Therapeutics and gave the stock a “neutral” rating in a report on Tuesday, October 13th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Inhibikase Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.75.

Inhibikase Therapeutics Trading Up 5.2%

Shares of NASDAQ IKT opened at $1.63 on Thursday. The stock’s 50-day moving average is $1.94 and its 200 day moving average is $1.93. The stock has a market cap of $227.44 million, a price-to-earnings ratio of -4.07 and a beta of 0.94. Inhibikase Therapeutics has a 1-year low of $1.40 and a 1-year high of $2.61.

Inhibikase Therapeutics (NASDAQ:IKT) last announced its quarterly earnings data on Tuesday, November 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. On average, analysts forecast that Inhibikase Therapeutics will post -0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Inhibikase Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Ally Bridge Group NY LLC purchased a new stake in shares of Inhibikase Therapeutics during the first quarter worth about $2,226,000. Kalehua Capital Management LLC increased its holdings 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 valued at $6,421,000 after purchasing an additional 2,071,890 shares during the period. SummitTX Capital L.P. purchased a new position in Inhibikase Therapeutics during the 1st quarter valued at about $2,561,000. Bank of America Corp DE increased its holdings in Inhibikase Therapeutics by 595.3% during the 1st quarter. Bank of America Corp DE now owns 322,704 shares of the company’s stock valued at $542,000 after purchasing an additional 276,293 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Inhibikase Therapeutics during the 2nd quarter valued at approximately $615,000. 3.81% of the stock is owned by institutional investors.

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.