Inhibikase Therapeutics (NASDAQ:IKT) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of Inhibikase Therapeutics (NASDAQ:IKT) from a sell rating to a strong sell rating in a research report released on Saturday morning.

A number of other research firms have also commented on IKT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Tuesday, April 21st. LADENBURG THALM/SH SH upgraded shares of Inhibikase Therapeutics to a “strong-buy” rating in a report on Monday, July 13th. Finally, Oppenheimer initiated coverage on shares of Inhibikase Therapeutics in a research report on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 price target for the company. Four research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $5.40.

Inhibikase Therapeutics Stock Up 5.7%

Shares of Inhibikase Therapeutics stock opened at $2.23 on Friday. Inhibikase Therapeutics has a 12-month low of $1.33 and a 12-month high of $2.36. The firm has a market capitalization of $294.43 million, a PE ratio of -5.19 and a beta of 0.94. The stock’s fifty day moving average is $1.83 and its 200-day moving average is $1.81.

Inhibikase Therapeutics (NASDAQ:IKT) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). Analysts expect that Inhibikase Therapeutics will post -0.42 EPS for the current year.

Institutional Investors Weigh In On Inhibikase Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IKT. Bank of America Corp DE boosted its stake in shares of 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 buying an additional 276,293 shares during the period. Ally Bridge Group NY LLC purchased a new stake in shares of Inhibikase Therapeutics during the first quarter worth $2,226,000. The Manufacturers Life Insurance Company acquired a new stake in Inhibikase Therapeutics during the first quarter valued at $48,000. SummitTX Capital L.P. acquired a new stake in Inhibikase Therapeutics during the first quarter valued at $2,561,000. Finally, Kalehua Capital Management LLC grew its stake in 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 purchasing an additional 2,071,890 shares in the last quarter. Hedge funds and other institutional investors own 3.81% of the company’s stock.

About Inhibikase Therapeutics

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.