Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Given Consensus Recommendation of “Buy” by Analysts

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has been given an average rating of “Buy” by the nine research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and four have given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $5.40.

A number of equities research analysts have recently issued reports on IKT shares. LADENBURG THALM/SH SH started coverage on Inhibikase Therapeutics in a research report on Wednesday, March 4th. They set a “buy” rating and a $4.00 target price on the stock. Oppenheimer started coverage on Inhibikase Therapeutics in a research report on Wednesday, June 10th. They set an “outperform” rating and a $5.00 target price on the stock. Lifesci Capital raised Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Tuesday, April 21st.

Inhibikase Therapeutics Price Performance

Shares of Inhibikase Therapeutics stock opened at $1.83 on Friday. The firm has a market cap of $241.61 million, a price-to-earnings ratio of -4.26 and a beta of 0.92. The business has a fifty day simple moving average of $1.77 and a 200-day simple moving average of $1.75. Inhibikase Therapeutics has a fifty-two week low of $1.33 and a fifty-two week high of $2.26.

Inhibikase Therapeutics (NASDAQ:IKT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). Analysts anticipate that Inhibikase Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inhibikase Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in shares of Inhibikase Therapeutics by 70.3% during the third quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock worth $25,000 after purchasing an additional 6,458 shares during the period. Barclays PLC raised its position in shares of Inhibikase Therapeutics by 10.8% during the fourth quarter. Barclays PLC now owns 94,795 shares of the company’s stock worth $194,000 after purchasing an additional 9,217 shares during the period. Virtu Financial LLC raised its position in shares of Inhibikase Therapeutics by 70.1% during the fourth 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. Sanctuary Advisors LLC acquired a new stake in shares of Inhibikase Therapeutics during the fourth quarter worth $26,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Inhibikase Therapeutics during the first quarter worth $26,000. 3.81% of the stock is owned by institutional investors and hedge funds.

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.