Analysts Offer Predictions for Ikena Oncology, Inc.’s Q1 2022 Earnings (NASDAQ:IKNA)

Ikena Oncology, Inc. (NASDAQ:IKNA – Get Rating) – Equities research analysts at Jefferies Financial Group issued their Q1 2022 earnings per share estimates for Ikena Oncology in a research note issued to investors on Tuesday, April 12th. Jefferies Financial Group analyst K. Shi anticipates that the company will earn ($0.39) per share for the quarter. Jefferies Financial Group also issued estimates for Ikena Oncology’s Q2 2022 earnings at ($0.41) EPS, Q3 2022 earnings at ($0.42) EPS, Q4 2022 earnings at ($0.39) EPS, FY2022 earnings at ($1.61) EPS, FY2023 earnings at ($1.64) EPS, FY2024 earnings at ($2.09) EPS, FY2025 earnings at ($2.91) EPS and FY2026 earnings at ($3.04) EPS.

A number of other equities research analysts have also recently commented on the stock. HC Wainwright increased their target price on shares of Ikena Oncology from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Credit Suisse Group reduced their price target on shares of Ikena Oncology from $27.00 to $24.00 in a research report on Thursday, March 17th. Finally, Zacks Investment Research downgraded shares of Ikena Oncology from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a report on Tuesday, April 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $19.00.

NASDAQ IKNA opened at $6.99 on Friday. Ikena Oncology has a 52 week low of $5.07 and a 52 week high of $26.49. The firm has a market cap of $251.01 million and a PE ratio of -2.18. The company has a 50 day moving average price of $7.31 and a 200 day moving average price of $11.02.

Ikena Oncology (NASDAQ:IKNA – Get Rating) last released its earnings results on Thursday, March 17th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.57. The firm had revenue of $20.22 million for the quarter, compared to analysts’ expectations of $3.28 million.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc grew its position in Ikena Oncology by 143.9% in the fourth quarter. Legal & General Group Plc now owns 2,273 shares of the company’s stock valued at $29,000 after acquiring an additional 1,341 shares during the period. Morgan Stanley boosted its holdings in Ikena Oncology by 787.6% in the third quarter. Morgan Stanley now owns 3,231 shares of the company’s stock valued at $41,000 after acquiring an additional 2,867 shares during the last quarter. Baystate Wealth Management LLC acquired a new position in Ikena Oncology in the fourth quarter valued at about $38,000. Wells Fargo & Company MN acquired a new position in Ikena Oncology in the second quarter valued at about $59,000. Finally, Bank of America Corp DE acquired a new stake in shares of Ikena Oncology during the second quarter worth about $60,000. Institutional investors and hedge funds own 58.78% of the company’s stock.

Ikena Oncology Company Profile (Get Rating)

Ikena Oncology, Inc, a targeted oncology company, focuses on developing medicines tailored to biomarker-defined patient groups for specific unmet needs. Its lead targeted oncology product candidate is IK-930, an oral small molecule inhibitor of the transcriptional enhanced associate domain, transcription factor in the Hippo signaling pathway.

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