Inhibikase Therapeutics (NASDAQ:IKT) Upgraded to “Hold” at Chardan Capital

Inhibikase Therapeutics (NASDAQ:IKT) was upgraded by equities research analysts at Chardan Capital to a “hold” rating in a report released on Tuesday, Zacks reports.

Other equities research analysts have also issued research reports about the stock. LADENBURG THALM/SH SH raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, July 13th. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of Inhibikase Therapeutics in a report on Friday, July 31st. 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, Weiss Ratings restated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Inhibikase Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $4.75.

Inhibikase Therapeutics Trading Down 4.6%

NASDAQ:IKT opened at $1.76 on Tuesday. The company’s 50 day moving average price is $2.28 and its 200-day moving average price is $2.02. Inhibikase Therapeutics has a 52 week low of $1.33 and a 52 week high of $2.61.

Inhibikase Therapeutics (NASDAQ:IKT) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Sell-side analysts expect that Inhibikase Therapeutics will post -0.45 EPS for the current year.

Hedge Funds Weigh In On Inhibikase Therapeutics

A number of hedge funds have recently modified their holdings of IKT. Kalehua Capital Management LLC increased its stake in shares of Inhibikase Therapeutics by 118.4% in the first quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company’s stock worth $6,421,000 after purchasing an additional 2,071,890 shares in the last quarter. SummitTX Capital L.P. bought a new stake in shares of Inhibikase Therapeutics during the 1st quarter valued at $2,561,000. Ally Bridge Group NY LLC purchased a new position in shares of Inhibikase Therapeutics during the 1st quarter valued at $2,226,000. Seven Fleet Capital Management LP purchased a new position in shares of Inhibikase Therapeutics during the 4th quarter valued at $1,094,000. Finally, Bank of America Corp DE boosted its holdings in Inhibikase Therapeutics by 595.3% in the 1st quarter. Bank of America Corp DE now owns 322,704 shares of the company’s stock worth $542,000 after buying an additional 276,293 shares during the period. 3.81% of the stock is currently owned by institutional investors.

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.