Inhibikase Therapeutics (NASDAQ:IKT) Stock Rating Lowered by Wall Street Zen

Inhibikase Therapeutics (NASDAQ:IKT) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report released on Saturday.

A number of other research analysts also recently issued reports on the company. Oppenheimer began coverage on Inhibikase Therapeutics in a report on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 price target for the company. LADENBURG THALM/SH SH upgraded shares of Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, July 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Inhibikase Therapeutics currently has a consensus rating of “Buy” and an average target price of $5.40.

Inhibikase Therapeutics Stock Performance

Shares of IKT opened at $2.11 on Friday. The business’s 50-day moving average is $1.83 and its two-hundred day moving average is $1.81. The company has a market capitalization of $278.58 million, a P/E ratio of -4.91 and a beta of 0.94. Inhibikase Therapeutics has a fifty-two week low of $1.33 and a fifty-two week high of $2.36.

Inhibikase Therapeutics (NASDAQ:IKT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). Analysts forecast that Inhibikase Therapeutics will post -0.42 EPS for the current year.

Institutional Trading of Inhibikase Therapeutics

Institutional investors have recently modified their holdings of the stock. Sands Capital Alternatives LLC lifted its stake in Inhibikase Therapeutics by 18.9% in the 4th quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock valued at $26,689,000 after buying an additional 2,068,965 shares in the last quarter. Spruce Street Capital LP acquired a new position in shares of Inhibikase Therapeutics during the fourth quarter valued at approximately $7,342,000. Seven Fleet Capital Management LP purchased a new position in shares of Inhibikase Therapeutics in the fourth quarter valued at approximately $1,094,000. Sanctuary Advisors LLC acquired a new stake in shares of Inhibikase Therapeutics in the fourth quarter worth approximately $26,000. Finally, JPMorgan Chase & Co. increased its position in shares of Inhibikase Therapeutics by 74.7% during the third quarter. JPMorgan Chase & Co. now owns 49,937 shares of the company’s stock worth $81,000 after purchasing an additional 21,358 shares in the last quarter. Institutional investors and hedge funds own 3.81% of the company’s stock.

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.