Inhibikase Therapeutics’ (IKT) Buy Rating Reiterated at HC Wainwright

Inhibikase Therapeutics (NYSE:IKT)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $8.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 359.77% from the company’s previous close.

Separately, Cantor Fitzgerald began coverage on Inhibikase Therapeutics in a research note on Thursday, December 11th. They issued an “overweight” rating and a $4.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $6.00.

Inhibikase Therapeutics Stock Performance

Shares of IKT stock opened at $1.74 on Friday. The firm has a market cap of $130.80 million, a price-to-earnings ratio of -0.65 and a beta of 0.88. Inhibikase Therapeutics has a 52 week low of $1.33 and a 52 week high of $3.49. The firm’s 50-day simple moving average is $1.56 and its two-hundred day simple moving average is $1.67.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IKT. Commodore Capital LP lifted its position in shares of Inhibikase Therapeutics by 1.0% during the second quarter. Commodore Capital LP now owns 5,397,488 shares of the company’s stock worth $10,525,000 after acquiring an additional 53,056 shares in the last quarter. ADAR1 Capital Management LLC raised its stake in shares of Inhibikase Therapeutics by 2.5% during the 3rd quarter. ADAR1 Capital Management LLC now owns 5,247,603 shares of the company’s stock valued at $8,501,000 after purchasing an additional 125,498 shares during the period. Vanguard Group Inc. lifted its holdings in Inhibikase Therapeutics by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,273,339 shares of the company’s stock worth $5,303,000 after purchasing an additional 48,969 shares in the last quarter. 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 purchasing an additional 741,940 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Inhibikase Therapeutics by 277.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 166,025 shares of the company’s stock worth $364,000 after purchasing an additional 122,073 shares during the period. 3.81% of the stock is currently owned by hedge funds and other institutional investors.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc is a clinical-stage biopharmaceutical company engaged in the discovery and development of small-molecule kinase inhibitors for rare neurodegenerative diseases. Headquartered in New Haven, Connecticut, the company focuses on advancing therapies for central nervous system disorders with high unmet medical need. Its research platform targets key signaling pathways implicated in neuronal survival and degeneration.

The company’s lead investigational candidate, IKT-148009, is a brain-penetrant inhibitor of PDK1 and ABL kinases.