Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Receives Consensus Recommendation of “Buy” from Analysts

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has been given a consensus rating of “Buy” by the nine research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $5.40.

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

Inhibikase Therapeutics Stock Performance

Shares of NASDAQ:IKT opened at $2.41 on Friday. The company’s fifty day moving average is $2.07 and its 200-day moving average is $1.88. Inhibikase Therapeutics has a 52 week low of $1.33 and a 52 week high of $2.53. The company has a market capitalization of $336.29 million, a PE ratio of -5.60 and a beta of 0.95.

Inhibikase Therapeutics (NASDAQ:IKT) last announced its earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). On average, analysts forecast that Inhibikase Therapeutics will post -0.43 EPS for the current year.

Institutional Trading of Inhibikase Therapeutics

Several hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in shares of Inhibikase Therapeutics by 277.7% in the first 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 in the last quarter. Jane Street Group LLC acquired a new position in Inhibikase Therapeutics during the 1st quarter worth $255,000. Geode Capital Management LLC lifted its holdings 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 buying an additional 741,940 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Inhibikase Therapeutics in the 2nd quarter valued at $56,000. Finally, New York State Common Retirement Fund bought a new position in Inhibikase Therapeutics in the 2nd quarter valued at $118,000. 3.81% of the stock is owned by institutional investors.

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.