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

Shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) have earned a consensus rating of “Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and four have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $5.50.

A number of brokerages have recently issued reports on IKT. Wall Street Zen raised Inhibikase Therapeutics to a “sell” rating in a research note on Saturday, December 27th. Bank of America started coverage on Inhibikase Therapeutics in a report on Wednesday, January 21st. They set a “buy” rating and a $6.00 target price for the company. Lifesci Capital upgraded Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, February 23rd. Zacks Research upgraded Inhibikase Therapeutics to a “hold” rating in a research report on Tuesday, December 2nd. Finally, Cantor Fitzgerald started coverage on Inhibikase Therapeutics in a research report on Thursday, December 11th. They issued an “overweight” rating and a $4.00 price objective for the company.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Sands Capital Alternatives LLC grew its stake in shares of Inhibikase Therapeutics by 18.9% in the fourth 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 during the last quarter. ADAR1 Capital Management LLC raised its position in Inhibikase Therapeutics by 53.7% during the 4th quarter. ADAR1 Capital Management LLC now owns 8,063,949 shares of the company’s stock valued at $16,531,000 after purchasing an additional 2,816,346 shares during the last quarter. Siren L.L.C. bought a new position in Inhibikase Therapeutics during the 4th quarter valued at approximately $11,992,000. Commodore Capital LP lifted its holdings in Inhibikase Therapeutics by 1.0% in the 2nd quarter. Commodore Capital LP now owns 5,397,488 shares of the company’s stock worth $10,525,000 after buying an additional 53,056 shares during the period. Finally, Squadron Capital Management LLC purchased a new stake in Inhibikase Therapeutics in the 4th quarter worth approximately $8,661,000. 3.81% of the stock is owned by hedge funds and other institutional investors.

Inhibikase Therapeutics Price Performance

Shares of Inhibikase Therapeutics stock opened at $2.00 on Thursday. The company has a market capitalization of $150.36 million, a P/E ratio of -5.13 and a beta of 0.76. Inhibikase Therapeutics has a 12-month low of $1.33 and a 12-month high of $2.58. The stock’s fifty day moving average is $1.78.

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.