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

Shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) have been assigned an average rating of “Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $5.40.

A number of research analysts recently weighed in on IKT shares. LADENBURG THALM/SH SH raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, July 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research 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 note on Sunday, July 26th. HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of Inhibikase Therapeutics in a report on Friday, July 31st. Finally, Oppenheimer assumed coverage on Inhibikase Therapeutics in a research report on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 target price on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IKT. BNP Paribas Financial Markets increased its position in shares of Inhibikase Therapeutics by 70.3% during the 3rd 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 last quarter. SG Americas Securities LLC bought a new position in shares of Inhibikase Therapeutics in the first quarter valued at $26,000. Sanctuary Advisors LLC bought a new position in shares of Inhibikase Therapeutics in the fourth quarter valued at $26,000. Renaissance Technologies LLC acquired a new position in Inhibikase Therapeutics during the first quarter worth $28,000. Finally, Spark Investment Management LLC acquired a new position in Inhibikase Therapeutics during the second quarter worth $31,000. 3.81% of the stock is currently owned by institutional investors.

Inhibikase Therapeutics Stock Performance

Shares of Inhibikase Therapeutics stock opened at $2.41 on Thursday. The firm has a market cap of $336.29 million, a PE ratio of -5.60 and a beta of 0.95. The business’s 50 day simple moving average is $2.30 and its 200 day simple moving average is $1.98. 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 results on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). As a group, equities research analysts predict that Inhibikase Therapeutics will post -0.44 EPS for the current year.

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.