Brokerages Set Inhibikase Therapeutics, Inc. (NASDAQ:IKT) PT at $5.40

Shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) have received an average rating of “Buy” from the nine brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $5.40.

IKT has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Inhibikase Therapeutics in a research note on Friday, July 31st. Oppenheimer assumed coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, June 10th. They set an “outperform” rating and a $5.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Friday, July 17th. Wall Street Zen upgraded shares of Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 26th. Finally, LADENBURG THALM/SH SH raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a report on Monday, July 13th.

Inhibikase Therapeutics Stock Down 0.4%

Shares of NASDAQ IKT opened at $2.45 on Friday. The stock’s 50 day moving average price is $2.02 and its two-hundred day moving average price is $1.87. Inhibikase Therapeutics has a 52-week low of $1.33 and a 52-week high of $2.53. The stock has a market capitalization of $323.47 million, a P/E ratio of -5.70 and a beta of 0.95.

Inhibikase Therapeutics (NASDAQ:IKT) last issued its earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). On average, analysts anticipate that Inhibikase Therapeutics will post -0.42 EPS for the current year.

Hedge Funds Weigh In On Inhibikase Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in shares of Inhibikase Therapeutics in the 4th quarter worth approximately $26,000. SG Americas Securities LLC acquired a new position in shares of Inhibikase Therapeutics during the first quarter valued at $26,000. BNP Paribas Financial Markets grew 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 acquiring an additional 6,458 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Inhibikase Therapeutics during the first quarter worth about $28,000. Finally, XTX Topco Ltd bought a new position in shares of Inhibikase Therapeutics during the fourth quarter worth about $42,000. 3.81% of the stock is currently owned by institutional investors and hedge funds.

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.