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

Shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) have earned an average recommendation of “Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and four have given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $5.50.

IKT has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Tuesday, April 21st. Lifesci Capital upgraded Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, February 23rd. Bank of America began coverage on Inhibikase Therapeutics in a research note on Wednesday, January 21st. They issued a “buy” rating and a $6.00 target price for the company. Finally, LADENBURG THALM/SH SH initiated coverage on Inhibikase Therapeutics in a research report on Wednesday, March 4th. They issued a “buy” rating and a $4.00 target price for the company.

Hedge Funds Weigh In On Inhibikase Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sands Capital Alternatives LLC boosted its position in shares of Inhibikase Therapeutics by 18.9% during the 4th quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock valued at $26,689,000 after acquiring an additional 2,068,965 shares in the last quarter. ADAR1 Capital Management LLC raised its position in Inhibikase Therapeutics by 53.7% in the fourth quarter. ADAR1 Capital Management LLC now owns 8,063,949 shares of the company’s stock worth $16,531,000 after purchasing an additional 2,816,346 shares in the last quarter. Siren L.L.C. bought a new position in Inhibikase Therapeutics during the fourth quarter worth about $11,992,000. Commodore Capital LP lifted its stake in Inhibikase Therapeutics by 1.0% during the second quarter. Commodore Capital LP now owns 5,397,488 shares of the company’s stock worth $10,525,000 after purchasing an additional 53,056 shares during the period. Finally, Squadron Capital Management LLC acquired a new stake in Inhibikase Therapeutics during the fourth quarter valued at approximately $8,661,000. 3.81% of the stock is owned by institutional investors.

Inhibikase Therapeutics Stock Up 1.6%

IKT opened at $1.89 on Friday. The firm has a market capitalization of $249.59 million, a P/E ratio of -3.94 and a beta of 0.86. The stock’s 50 day moving average price is $1.83 and its two-hundred day moving average price is $1.70. Inhibikase Therapeutics has a 12-month low of $1.33 and a 12-month high of $2.37.

Inhibikase Therapeutics (NASDAQ:IKT) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. As a group, analysts anticipate that Inhibikase Therapeutics will post -0.46 earnings per share for the current year.

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.