Brokerages Set Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Target Price at $5.50

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has been given an average rating of “Buy” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.50.

IKT has been the topic of several recent research reports. Bank of America initiated coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, January 21st. They issued a “buy” rating and a $6.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Tuesday, April 21st. LADENBURG THALM/SH SH initiated coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, March 4th. They issued a “buy” rating and a $4.00 target price on the stock. Finally, Lifesci Capital raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, February 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IKT. Goldman Sachs Group Inc. boosted its stake in shares of Inhibikase Therapeutics by 277.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 166,025 shares of the company’s stock valued at $364,000 after purchasing an additional 122,073 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Inhibikase Therapeutics in the 1st quarter valued at about $255,000. Geode Capital Management LLC boosted its stake in Inhibikase Therapeutics by 228.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,066,700 shares of the company’s stock worth $2,080,000 after acquiring an additional 741,940 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Inhibikase Therapeutics during the 2nd quarter worth approximately $56,000. Finally, New York State Common Retirement Fund bought a new position in Inhibikase Therapeutics during the 2nd quarter worth approximately $118,000. Institutional investors own 3.81% of the company’s stock.

Inhibikase Therapeutics Trading Down 1.0%

IKT opened at $1.99 on Friday. The stock has a market capitalization of $262.80 million, a PE ratio of -4.15 and a beta of 0.96. Inhibikase Therapeutics has a 1-year low of $1.33 and a 1-year high of $2.27. The firm has a 50-day moving average price of $1.84 and a two-hundred day moving average price of $1.71.

Inhibikase Therapeutics (NASDAQ:IKT) last issued its earnings results on Thursday, March 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.03. On average, research analysts predict that Inhibikase Therapeutics will post -0.46 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.