Inhibikase Therapeutics (NASDAQ:IKT) Upgraded to “Strong-Buy” at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Inhibikase Therapeutics (NASDAQ:IKT) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Oppenheimer assumed coverage on shares of Inhibikase Therapeutics in a report on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Tuesday, April 21st. Four analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $5.40.

Inhibikase Therapeutics Price Performance

Inhibikase Therapeutics stock opened at $1.96 on Monday. The firm has a market cap of $258.78 million, a PE ratio of -4.56 and a beta of 0.94. Inhibikase Therapeutics has a one year low of $1.33 and a one year high of $2.26. The stock’s fifty day moving average price is $1.82 and its two-hundred day moving average price is $1.80.

Inhibikase Therapeutics (NASDAQ:IKT) last posted its earnings results on Tuesday, May 12th. The company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). Sell-side analysts expect that Inhibikase Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inhibikase Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in Inhibikase Therapeutics during the 4th quarter valued at approximately $26,000. SG Americas Securities LLC bought a new position in shares of Inhibikase Therapeutics during the first quarter valued at approximately $26,000. BNP Paribas Financial Markets boosted its holdings in 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 acquiring an additional 6,458 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Inhibikase Therapeutics during the 1st quarter valued at $28,000. Finally, XTX Topco Ltd bought a new stake in shares of Inhibikase Therapeutics during the 4th quarter valued at about $42,000. Institutional investors own 3.81% of the company’s stock.

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.