Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Given Consensus Rating of “Buy” by Analysts

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) has received an average recommendation of “Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and four have given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $5.50.

Several equities analysts recently weighed in on IKT shares. Lifesci Capital raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, February 23rd. LADENBURG THALM/SH SH started coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, March 4th. They issued a “buy” rating and a $4.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Tuesday, April 21st.

Hedge Funds Weigh In On Inhibikase Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in IKT. BNP Paribas Financial Markets grew its stake in shares of 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 buying an additional 6,458 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Inhibikase Therapeutics in the first quarter valued at $26,000. Sanctuary Advisors LLC bought a new position in shares of Inhibikase Therapeutics in the fourth quarter valued at $26,000. Renaissance Technologies LLC bought a new position in shares of Inhibikase Therapeutics in the first quarter valued at $28,000. Finally, XTX Topco Ltd bought a new position in shares of Inhibikase Therapeutics in the fourth quarter valued at $42,000. 3.81% of the stock is owned by institutional investors.

Inhibikase Therapeutics Price Performance

Shares of IKT opened at $1.69 on Tuesday. The stock has a market capitalization of $223.13 million, a P/E ratio of -3.93 and a beta of 0.96. Inhibikase Therapeutics has a twelve month low of $1.33 and a twelve month high of $2.26. The company has a 50 day moving average of $1.80 and a 200-day moving average of $1.73.

Inhibikase Therapeutics (NASDAQ:IKT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). On average, sell-side analysts anticipate that Inhibikase Therapeutics will post -0.46 earnings per share for the current fiscal year.

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.