Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Given Consensus Rating of “Buy” by Analysts

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

A number of equities research analysts have issued reports on IKT shares. Wall Street Zen raised shares of Inhibikase Therapeutics to a “sell” rating in a research note on Saturday, December 27th. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Inhibikase Therapeutics in a report on Friday, December 26th. Bank of America initiated coverage on Inhibikase Therapeutics in a report on Wednesday, January 21st. They set a “buy” rating and a $6.00 price target for the company. Jefferies Financial Group restated a “buy” rating on shares of Inhibikase Therapeutics in a report on Monday, December 29th. Finally, Cantor Fitzgerald initiated coverage on shares of Inhibikase Therapeutics in a research note on Thursday, December 11th. They issued an “overweight” rating and a $4.00 price objective for the company.

Inhibikase Therapeutics Price Performance

NASDAQ IKT opened at $1.80 on Monday. The firm has a market capitalization of $237.65 million, a price-to-earnings ratio of -3.75 and a beta of 0.86. The company 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 announced its quarterly earnings data on Thursday, March 26th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03.

Hedge Funds Weigh In On Inhibikase Therapeutics

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in shares of Inhibikase Therapeutics by 277.7% in the first quarter. Goldman Sachs Group Inc. now owns 166,025 shares of the company’s stock worth $364,000 after buying an additional 122,073 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Inhibikase Therapeutics during the 1st quarter valued at about $255,000. Geode Capital Management LLC raised its stake in shares of Inhibikase Therapeutics by 228.5% in 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. bought a new position in shares of Inhibikase Therapeutics in the 2nd quarter valued at approximately $56,000. Finally, New York State Common Retirement Fund acquired a new stake in Inhibikase Therapeutics in the 2nd quarter worth approximately $118,000. 3.81% of the stock is currently owned by institutional investors.

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.