Chardan Capital Begins Coverage on Inhibikase Therapeutics (NASDAQ:IKT)

Equities research analysts at Chardan Capital began coverage on shares of Inhibikase Therapeutics (NASDAQ:IKT) in a note issued to investors on Tuesday, MarketBeat reports. The firm set a “hold” rating and a $1.50 price target on the stock. Chardan Capital’s target price points to a potential downside of 19.57% from the company’s current price.

A number of other analysts also recently issued reports on IKT. LADENBURG THALM/SH SH raised Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Inhibikase Therapeutics in a research note on Friday, July 31st. Finally, Wall Street Zen raised Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 26th. 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 issued a Sell rating to the stock. According to MarketBeat.com, Inhibikase Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $4.75.

Inhibikase Therapeutics Stock Performance

NASDAQ:IKT traded up $0.07 during trading hours on Tuesday, reaching $1.87. The stock had a trading volume of 63,510 shares, compared to its average volume of 1,090,918. Inhibikase Therapeutics has a 52 week low of $1.33 and a 52 week high of $2.61. The company has a 50 day moving average price of $2.27 and a two-hundred day moving average price of $2.02. The stock has a market capitalization of $260.24 million, a PE ratio of -4.34 and a beta of 0.89.

Inhibikase Therapeutics (NASDAQ:IKT) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Equities research analysts predict that Inhibikase Therapeutics will post -0.45 EPS for the current year.

Institutional Trading of Inhibikase Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Inhibikase Therapeutics during the 1st quarter valued at $26,000. Spark Investment Management LLC purchased a new stake in Inhibikase Therapeutics during the 2nd quarter valued at $31,000. Renaissance Technologies LLC purchased a new stake in Inhibikase Therapeutics during the 1st quarter valued at $28,000. Seven Fleet Capital Management LP raised its holdings in Inhibikase Therapeutics by 6.5% during the 2nd quarter. Seven Fleet Capital Management LP now owns 346,900 shares of the company’s stock valued at $704,000 after buying an additional 21,300 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in Inhibikase Therapeutics during the 1st quarter valued at $48,000. Hedge funds and other 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.