Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Receives Average Rating of “Buy” from Analysts

Shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) have earned a consensus rating of “Buy” from the eight research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and four have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $5.50.

IKT has been the topic of several recent research reports. Cantor Fitzgerald started coverage on shares of Inhibikase Therapeutics in a research report on Thursday, December 11th. They set an “overweight” rating and a $4.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Thursday, January 22nd. Lifesci Capital upgraded Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, February 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Inhibikase Therapeutics in a research note on Monday, December 29th. Finally, Bank of America assumed coverage on Inhibikase Therapeutics in a research report on Wednesday, January 21st. They set a “buy” rating and a $6.00 target price on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IKT. BNP Paribas Financial Markets lifted its holdings in shares of Inhibikase Therapeutics by 70.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock worth $25,000 after acquiring an additional 6,458 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Inhibikase Therapeutics during the 4th quarter worth about $26,000. Police & Firemen s Retirement System of New Jersey bought a new position in Inhibikase Therapeutics during the 2nd quarter valued at about $34,000. XTX Topco Ltd purchased a new stake in Inhibikase Therapeutics in the 4th quarter worth about $42,000. Finally, Virtu Financial LLC raised its position in Inhibikase Therapeutics by 70.1% in the 4th quarter. Virtu Financial LLC now owns 22,869 shares of the company’s stock worth $47,000 after purchasing an additional 9,423 shares during the period. Institutional investors own 3.81% of the company’s stock.

Inhibikase Therapeutics Stock Down 6.6%

IKT stock opened at $1.83 on Thursday. Inhibikase Therapeutics has a 52 week low of $1.33 and a 52 week high of $2.58. The firm has a market capitalization of $137.58 million, a P/E ratio of -4.69 and a beta of 0.76. The company has a fifty day simple moving average of $1.77 and a two-hundred day simple moving average of $1.67.

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.