Inhibikase Therapeutics (NASDAQ:IKT) Releases Quarterly Earnings Results, Hits Estimates

Inhibikase Therapeutics (NASDAQ:IKT) released its quarterly earnings results on Tuesday. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10), FiscalAI reports.

Inhibikase Therapeutics Price Performance

Inhibikase Therapeutics stock opened at $1.92 on Wednesday. Inhibikase Therapeutics has a 1-year low of $1.33 and a 1-year high of $2.27. The stock has a market cap of $253.56 million, a PE ratio of -4.00 and a beta of 0.96. The stock’s fifty day moving average is $1.83 and its two-hundred day moving average is $1.72.

Institutional Trading of Inhibikase Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of IKT. Goldman Sachs Group Inc. increased its position in shares of Inhibikase Therapeutics by 277.7% during the first quarter. Goldman Sachs Group Inc. now owns 166,025 shares of the company’s stock worth $364,000 after purchasing an additional 122,073 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Inhibikase Therapeutics during the first quarter worth about $255,000. Geode Capital Management LLC increased its position in shares of Inhibikase Therapeutics by 228.5% during the second quarter. Geode Capital Management LLC now owns 1,066,700 shares of the company’s stock worth $2,080,000 after purchasing an additional 741,940 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Inhibikase Therapeutics during the second quarter worth about $56,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Inhibikase Therapeutics during the second quarter worth about $118,000. 3.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IKT has been the subject of a number of recent research reports. Bank of America initiated coverage on Inhibikase Therapeutics in a report on Wednesday, January 21st. They issued a “buy” rating and a $6.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Tuesday, April 21st. Lifesci Capital upgraded Inhibikase Therapeutics to a “strong-buy” rating in a report on Monday, February 23rd. Finally, LADENBURG THALM/SH SH assumed coverage on Inhibikase Therapeutics in a report on Wednesday, March 4th. They issued a “buy” rating and a $4.00 target price for the company. Four investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $5.50.

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.