Inhibikase Therapeutics (NASDAQ:IKT) Releases Quarterly Earnings Results

Inhibikase Therapeutics (NASDAQ:IKT) posted its quarterly earnings data on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, FiscalAI reports.

Inhibikase Therapeutics Stock Down 5.4%

IKT stock traded down $0.11 during midday trading on Tuesday, reaching $1.92. 592,396 shares of the company’s stock traded hands, compared to its average volume of 1,542,473. The company has a 50-day simple moving average of $1.84 and a two-hundred day simple moving average of $1.72. Inhibikase Therapeutics has a 1-year low of $1.33 and a 1-year high of $2.27. The company has a market cap of $253.56 million, a price-to-earnings ratio of -4.00 and a beta of 0.96.

Analyst Ratings Changes

Several brokerages recently weighed in on IKT. Bank of America began coverage on Inhibikase Therapeutics in a research note on Wednesday, January 21st. They set a “buy” rating and a $6.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Tuesday, April 21st. Lifesci Capital upgraded Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, LADENBURG THALM/SH SH started coverage on Inhibikase Therapeutics in a research report on Wednesday, March 4th. They issued a “buy” rating and a $4.00 price objective for the company. Four analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Inhibikase Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $5.50.

Institutional Investors Weigh In On Inhibikase Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in IKT. BNP Paribas Financial Markets lifted its holdings in Inhibikase Therapeutics by 70.3% during the third quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock worth $25,000 after acquiring an additional 6,458 shares in the last quarter. Barclays PLC lifted its holdings in Inhibikase Therapeutics by 10.8% during the fourth quarter. Barclays PLC now owns 94,795 shares of the company’s stock worth $194,000 after acquiring an additional 9,217 shares in the last quarter. Virtu Financial LLC lifted its holdings in shares of Inhibikase Therapeutics by 70.1% in the fourth quarter. Virtu Financial LLC now owns 22,869 shares of the company’s stock valued at $47,000 after purchasing an additional 9,423 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Inhibikase Therapeutics during the fourth quarter worth about $26,000. Finally, SG Americas Securities LLC acquired a new stake in Inhibikase Therapeutics in the 1st quarter valued at approximately $26,000. 3.81% of the stock is owned by institutional investors and hedge funds.

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.