Inhibikase Therapeutics (NYSE:IKT) Receives Buy Rating from HC Wainwright

Inhibikase Therapeutics (NYSE:IKT)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $8.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 359.77% from the stock’s previous close.

Separately, Cantor Fitzgerald started 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. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $6.00.

Inhibikase Therapeutics Stock Performance

Shares of IKT stock opened at $1.74 on Friday. The company has a market cap of $130.80 million, a P/E ratio of -0.65 and a beta of 0.88. The stock has a 50 day simple moving average of $1.56 and a two-hundred day simple moving average of $1.67. Inhibikase Therapeutics has a fifty-two week low of $1.33 and a fifty-two week high of $3.49.

Institutional Trading of Inhibikase Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its holdings in shares of Inhibikase Therapeutics by 70.3% in the third quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock valued at $25,000 after purchasing an additional 6,458 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in Inhibikase Therapeutics in the 2nd quarter valued at about $34,000. JPMorgan Chase & Co. bought a new position in shares of Inhibikase Therapeutics during the 2nd quarter worth approximately $56,000. Invesco Ltd. purchased a new stake in shares of Inhibikase Therapeutics during the second quarter valued at approximately $60,000. Finally, Intech Investment Management LLC bought a new stake in Inhibikase Therapeutics during the second quarter worth $61,000. 3.81% of the stock is owned by hedge funds and other institutional investors.

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.