Inhibikase Therapeutics (NASDAQ:IKT) Posts Earnings Results, Misses Expectations By $0.02 EPS

Inhibikase Therapeutics (NASDAQ:IKT) released its quarterly earnings data on Tuesday. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02), FiscalAI reports.

Inhibikase Therapeutics Stock Down 1.9%

NASDAQ IKT opened at $2.40 on Wednesday. Inhibikase Therapeutics has a fifty-two week low of $1.33 and a fifty-two week high of $2.53. The business has a 50 day moving average price of $2.02 and a two-hundred day moving average price of $1.87. The stock has a market cap of $317.40 million, a PE ratio of -5.67 and a beta of 0.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IKT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of Inhibikase Therapeutics in a report on Friday, July 31st. Oppenheimer initiated coverage on Inhibikase Therapeutics in a research note on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 price objective on the stock. LADENBURG THALM/SH SH upgraded Inhibikase Therapeutics to a “strong-buy” rating in a report on Monday, July 13th. Finally, Wall Street Zen raised shares of Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 26th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $5.40.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sands Capital Alternatives LLC grew its holdings in Inhibikase Therapeutics by 18.9% during the 4th quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock valued at $26,689,000 after purchasing an additional 2,068,965 shares in the last quarter. ADAR1 Capital Management LLC increased its stake in shares of Inhibikase Therapeutics by 53.7% in the fourth quarter. ADAR1 Capital Management LLC now owns 8,063,949 shares of the company’s stock worth $16,531,000 after buying an additional 2,816,346 shares during the last quarter. Siren L.L.C. bought a new stake in shares of Inhibikase Therapeutics in the fourth quarter worth $11,992,000. Commodore Capital LP raised its holdings in Inhibikase Therapeutics by 1.0% in the second quarter. Commodore Capital LP now owns 5,397,488 shares of the company’s stock valued at $10,525,000 after acquiring an additional 53,056 shares in the last quarter. Finally, Squadron Capital Management LLC acquired a new stake in Inhibikase Therapeutics in the fourth quarter valued at $8,661,000. 3.81% of the stock is owned by institutional investors and hedge funds.

About Inhibikase Therapeutics

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.