Cantor Fitzgerald Initiates Coverage on Inhibikase Therapeutics (NYSE:IKT)

Equities research analysts at Cantor Fitzgerald began coverage on shares of Inhibikase Therapeutics (NYSE:IKT) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set an “overweight” rating and a $4.00 price target on the stock. Cantor Fitzgerald’s price target points to a potential upside of 170.27% from the company’s previous close.

Inhibikase Therapeutics Stock Up 1.4%

Shares of IKT stock opened at $1.48 on Thursday. The business has a fifty day simple moving average of $1.55 and a 200 day simple moving average of $1.69. Inhibikase Therapeutics has a twelve month low of $1.33 and a twelve month high of $4.20. The company has a market cap of $111.26 million, a P/E ratio of -0.55 and a beta of 0.88.

Institutional Investors Weigh In On Inhibikase Therapeutics

A number of hedge funds have recently added to or reduced their stakes in IKT. BNP Paribas Financial Markets raised its holdings in shares of Inhibikase Therapeutics by 70.3% during the third quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock valued at $25,000 after purchasing an additional 6,458 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in Inhibikase Therapeutics during the 2nd quarter valued at $34,000. JPMorgan Chase & Co. purchased a new position in Inhibikase Therapeutics during the second quarter worth about $56,000. Invesco Ltd. purchased a new position in shares of Inhibikase Therapeutics in the 2nd quarter worth approximately $60,000. Finally, Intech Investment Management LLC bought a new position in Inhibikase Therapeutics in the 2nd quarter valued at $61,000. 3.81% of the stock is currently owned by institutional investors.

Inhibikase Therapeutics Company Profile

Inhibikase Therapeutics, Inc, a clinical-stage pharmaceutical company, develops therapeutics for Parkinson’s disease and related disorders. Its lead product candidate is IkT-148009, a non-receptor Abelson tyrosine kinase inhibitor, which is in Phase 2a clinical trials to the treatment of Parkinson’s disease and gastrointestinal tract.