Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Receives $5.40 Average Target Price from Brokerages

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has earned a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and four have assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $5.40.

Several research firms recently weighed in on IKT. LADENBURG THALM/SH SH upgraded shares of Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen cut shares of Inhibikase Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, Oppenheimer began coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 target price on the stock.

Hedge Funds Weigh In On Inhibikase Therapeutics

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in Inhibikase Therapeutics by 595.3% during the first quarter. Bank of America Corp DE now owns 322,704 shares of the company’s stock valued at $542,000 after purchasing an additional 276,293 shares during the period. Ally Bridge Group NY LLC purchased a new stake in Inhibikase Therapeutics in the first quarter worth $2,226,000. The Manufacturers Life Insurance Company bought a new stake in shares of Inhibikase Therapeutics in the first quarter valued at $48,000. SummitTX Capital L.P. bought a new stake in shares of Inhibikase Therapeutics in the first quarter valued at $2,561,000. Finally, Kalehua Capital Management LLC raised its stake in shares of Inhibikase Therapeutics by 118.4% in the first quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company’s stock valued at $6,421,000 after buying an additional 2,071,890 shares during the period. Hedge funds and other institutional investors own 3.81% of the company’s stock.

Inhibikase Therapeutics Price Performance

Shares of NASDAQ:IKT opened at $2.11 on Wednesday. Inhibikase Therapeutics has a 1 year low of $1.33 and a 1 year high of $2.36. The company has a market capitalization of $278.58 million, a PE ratio of -4.91 and a beta of 0.94. The business has a fifty day moving average price of $1.83 and a two-hundred day moving average price of $1.81.

Inhibikase Therapeutics (NASDAQ:IKT) last released its earnings results on Tuesday, May 12th. The company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). Sell-side analysts anticipate that Inhibikase Therapeutics will post -0.42 earnings per share for the current year.

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.