Inhibikase Therapeutics (NASDAQ:IKT) Rating Increased to Sell at Wall Street Zen

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

IKT has been the topic of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Friday, July 17th. LADENBURG THALM/SH SH upgraded Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, July 13th. Finally, Oppenheimer began coverage on Inhibikase Therapeutics in a research report on Wednesday, June 10th. They set an “outperform” rating and a $5.00 price target for the company. Four investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Inhibikase Therapeutics has a consensus rating of “Buy” and a consensus price target of $5.40.

Inhibikase Therapeutics Stock Performance

NASDAQ:IKT opened at $2.33 on Friday. The company has a market cap of $307.63 million, a PE ratio of -5.42 and a beta of 0.94. Inhibikase Therapeutics has a twelve month low of $1.33 and a twelve month high of $2.53. The company’s 50 day moving average is $1.86 and its two-hundred day moving average is $1.81.

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

Institutional Trading of Inhibikase Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of IKT. BNP Paribas Financial Markets boosted 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 valued at $25,000 after acquiring an additional 6,458 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Inhibikase Therapeutics during the first quarter worth $26,000. Sanctuary Advisors LLC acquired a new position in Inhibikase Therapeutics during the fourth quarter valued at $26,000. Renaissance Technologies LLC acquired a new position in Inhibikase Therapeutics during the first quarter valued at $28,000. Finally, XTX Topco Ltd acquired a new position in Inhibikase Therapeutics during the fourth quarter valued at $42,000. 3.81% of the stock is currently 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.