Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Stock Has Consensus Target Price of $5.40

Shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) have received a consensus recommendation of “Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $5.40.

Several research firms have recently commented on IKT. HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Inhibikase Therapeutics in a report on Friday, July 31st. LADENBURG THALM/SH SH upgraded Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, July 13th. Wall Street Zen upgraded Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 26th. Oppenheimer assumed coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, June 10th. They set an “outperform” rating and a $5.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Friday, July 17th.

Inhibikase Therapeutics Stock Performance

Shares of NASDAQ:IKT opened at $2.00 on Monday. The stock has a market cap of $279.08 million, a PE ratio of -4.65 and a beta of 0.89. The business’s fifty day moving average price is $2.33 and its two-hundred day moving average price is $2.01. Inhibikase Therapeutics has a one year low of $1.33 and a one year high of $2.61.

Inhibikase Therapeutics (NASDAQ:IKT) last released its earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). As a group, equities research analysts predict that Inhibikase Therapeutics will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inhibikase Therapeutics

A number of hedge funds have recently modified their holdings of IKT. SG Americas Securities LLC acquired a new position in Inhibikase Therapeutics during the first quarter worth $26,000. Spark Investment Management LLC acquired a new stake in shares of Inhibikase Therapeutics in the 2nd quarter valued at $31,000. Renaissance Technologies LLC acquired a new position in Inhibikase Therapeutics in the first quarter worth $28,000. The Manufacturers Life Insurance Company bought a new stake in shares of Inhibikase Therapeutics during the first quarter valued at approximately $48,000. Finally, Sei Investments Co. acquired a new stake in shares of Inhibikase Therapeutics in the 1st quarter valued at $81,000. 3.81% of the stock is currently owned by institutional investors and hedge funds.

Inhibikase Therapeutics Company Profile

Inhibikase Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for diseases associated with abnormal protein accumulation and misfolding. The company’s research is centered primarily on neurodegenerative disorders involving alpha-synuclein, a protein implicated in Parkinson’s disease and related conditions.

Inhibikase’s lead investigational product, IkT-148009, is an orally administered, brain-penetrant Abelson tyrosine kinase inhibitor.