Analysts Set Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Target Price at $5.40

Shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) have earned a consensus recommendation of “Buy” from the nine research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $5.40.

A number of equities research analysts have recently issued reports on IKT shares. Oppenheimer assumed coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Inhibikase Therapeutics in a research note on Friday, July 31st. LADENBURG THALM/SH SH upgraded shares of Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, July 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Friday, July 17th. Finally, Wall Street Zen raised Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 26th.

Hedge Funds Weigh In On Inhibikase Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in Inhibikase Therapeutics by 70.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock worth $25,000 after purchasing an additional 6,458 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Inhibikase Therapeutics during the first quarter valued at approximately $26,000. Sanctuary Advisors LLC purchased a new stake in shares of Inhibikase Therapeutics during the fourth quarter valued at approximately $26,000. Renaissance Technologies LLC bought a new position in shares of Inhibikase Therapeutics in the first quarter worth approximately $28,000. Finally, XTX Topco Ltd bought a new position in shares of Inhibikase Therapeutics in the fourth quarter worth approximately $42,000. 3.81% of the stock is currently owned by institutional investors.

Inhibikase Therapeutics Price Performance

NASDAQ:IKT opened at $2.50 on Thursday. The business has a 50 day moving average of $2.27 and a 200 day moving average of $1.97. The company has a market capitalization of $348.85 million, a price-to-earnings ratio of -5.81 and a beta of 0.95. Inhibikase Therapeutics has a 1-year low of $1.33 and a 1-year high of $2.61.

Inhibikase Therapeutics (NASDAQ:IKT) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). As a group, sell-side analysts anticipate that Inhibikase Therapeutics will post -0.44 EPS 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.