Analysts Set Inhibikase Therapeutics, Inc. (NASDAQ:IKT) PT at $5.50

Shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) have earned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and four have given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $5.50.

A number of research firms have recently commented on IKT. Bank of America began coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, January 21st. They set a “buy” rating and a $6.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Inhibikase Therapeutics in a research note on Friday, December 26th. LADENBURG THALM/SH SH began coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, March 4th. They set a “buy” rating and a $4.00 target price for the company. Lifesci Capital raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Inhibikase Therapeutics in a research note on Monday, December 29th.

Institutional Trading of Inhibikase Therapeutics

Several large investors have recently bought and sold shares of IKT. Goldman Sachs Group Inc. grew its stake in Inhibikase Therapeutics by 277.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 166,025 shares of the company’s stock valued at $364,000 after acquiring an additional 122,073 shares in the last quarter. Jane Street Group LLC purchased a new stake in Inhibikase Therapeutics during the 1st quarter valued at about $255,000. Geode Capital Management LLC grew its stake in Inhibikase Therapeutics by 228.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,066,700 shares of the company’s stock valued at $2,080,000 after acquiring an additional 741,940 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in Inhibikase Therapeutics during the 2nd quarter valued at about $56,000. Finally, New York State Common Retirement Fund purchased a new stake in Inhibikase Therapeutics during the 2nd quarter valued at about $118,000. Hedge funds and other institutional investors own 3.81% of the company’s stock.

Inhibikase Therapeutics Stock Down 1.1%

IKT stock opened at $1.74 on Monday. The stock has a market capitalization of $229.73 million, a P/E ratio of -3.63 and a beta of 0.86. The firm has a 50-day simple moving average of $1.78 and a 200-day simple moving average of $1.68. Inhibikase Therapeutics has a 52 week low of $1.33 and a 52 week high of $2.37.

Inhibikase Therapeutics (NASDAQ:IKT) last released its earnings results on Thursday, March 26th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03.

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.