LADENBURG THALM/SH SH Initiates Coverage on Inhibikase Therapeutics (NYSE:IKT)

Equities research analysts at LADENBURG THALM/SH SH began coverage on shares of Inhibikase Therapeutics (NYSE:IKT) in a report issued on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. LADENBURG THALM/SH SH’s price target indicates a potential upside of 111.64% from the stock’s current price.

A number of other equities analysts have also recently commented on IKT. Bank of America initiated coverage on shares of Inhibikase Therapeutics in a research report on Wednesday, January 21st. They set a “buy” rating and a $6.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of Inhibikase Therapeutics in a research note on Thursday, December 11th. They set an “overweight” rating and a $4.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of Inhibikase Therapeutics in a research note on Friday, December 26th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Inhibikase Therapeutics in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $5.50.

Inhibikase Therapeutics Stock Down 3.1%

IKT opened at $1.89 on Wednesday. Inhibikase Therapeutics has a 12-month low of $1.33 and a 12-month high of $2.58. The business has a 50 day moving average of $1.78 and a 200-day moving average of $1.67. The stock has a market cap of $142.08 million, a price-to-earnings ratio of -0.71 and a beta of 0.76.

Institutional Trading of Inhibikase Therapeutics

Institutional investors have recently bought and sold shares of the business. Sands Capital Alternatives LLC grew its position in shares of Inhibikase Therapeutics by 18.9% during the 4th quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock worth $26,689,000 after purchasing an additional 2,068,965 shares in the last quarter. ADAR1 Capital Management LLC increased its holdings in Inhibikase Therapeutics by 53.7% in the 4th quarter. ADAR1 Capital Management LLC now owns 8,063,949 shares of the company’s stock worth $16,531,000 after purchasing an additional 2,816,346 shares in the last quarter. Siren L.L.C. bought a new stake in shares of Inhibikase Therapeutics during the fourth quarter worth about $11,992,000. Commodore Capital LP increased its position in Inhibikase Therapeutics by 1.0% in the 2nd quarter. Commodore Capital LP now owns 5,397,488 shares of the company’s stock valued at $10,525,000 after acquiring an additional 53,056 shares during the period. Finally, Squadron Capital Management LLC acquired a new stake in Inhibikase Therapeutics in the fourth quarter valued at $8,661,000. Institutional investors own 3.81% of the company’s stock.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc is a clinical-stage biopharmaceutical company engaged in the discovery and development of small-molecule kinase inhibitors for rare neurodegenerative diseases. Headquartered in New Haven, Connecticut, the company focuses on advancing therapies for central nervous system disorders with high unmet medical need. Its research platform targets key signaling pathways implicated in neuronal survival and degeneration.

The company’s lead investigational candidate, IKT-148009, is a brain-penetrant inhibitor of PDK1 and ABL kinases.