Inhibikase Therapeutics (NASDAQ:IKT) Posts Earnings Results

Inhibikase Therapeutics (NASDAQ:IKT) posted its quarterly earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, FiscalAI reports.

Inhibikase Therapeutics Stock Performance

NASDAQ:IKT remained flat at $1.63 on Thursday. 543,311 shares of the company’s stock were exchanged, compared to its average volume of 1,898,247. The firm has a market capitalization of $122.54 million, a price-to-earnings ratio of -4.18 and a beta of 0.76. The company has a 50 day moving average of $1.78 and a two-hundred day moving average of $1.67. Inhibikase Therapeutics has a 12-month low of $1.33 and a 12-month high of $2.42.

Wall Street Analysts Forecast Growth

IKT has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Inhibikase Therapeutics in a research report on Friday, December 26th. LADENBURG THALM/SH SH started coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, March 4th. They set a “buy” rating and a $4.00 price target for the company. Bank of America began coverage on Inhibikase Therapeutics in a research note on Wednesday, January 21st. They issued a “buy” rating and a $6.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Thursday, January 22nd. Finally, Cantor Fitzgerald began coverage on Inhibikase Therapeutics in a research report on Thursday, December 11th. They issued an “overweight” rating and a $4.00 target price for the company. Four investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Inhibikase Therapeutics currently has an average rating of “Buy” and an average price target of $5.50.

Institutional Trading of Inhibikase Therapeutics

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in Inhibikase Therapeutics by 70.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock valued at $25,000 after buying an additional 6,458 shares in the last quarter. Barclays PLC lifted its position in shares of Inhibikase Therapeutics by 10.8% during the fourth quarter. Barclays PLC now owns 94,795 shares of the company’s stock worth $194,000 after acquiring an additional 9,217 shares in the last quarter. Virtu Financial LLC lifted its position in shares of Inhibikase Therapeutics by 70.1% during the fourth quarter. Virtu Financial LLC now owns 22,869 shares of the company’s stock worth $47,000 after acquiring an additional 9,423 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Inhibikase Therapeutics in the fourth quarter worth $26,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Inhibikase Therapeutics by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,128,239 shares of the company’s stock worth $2,313,000 after acquiring an additional 15,665 shares during the period. 3.81% of the stock is currently owned by hedge funds and other 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.