Inhibikase Therapeutics (NASDAQ:IKT) Given Buy Rating at HC Wainwright

Key Points

• HC Wainwright reiterated its Buy rating on Inhibikase Therapeutics and set an $8 price target, implying about 391% upside from the stock’s current price.
• Analyst opinions are mixed: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $4.75, while other firms range from neutral to strong sell.
• Inhibikase reported quarterly EPS of -$0.10, slightly better than analysts’ -$0.11 estimate. The clinical-stage biotech is developing treatments for Parkinson’s disease and other neurodegenerative disorders.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently have a $8.00 price target on the stock. HC Wainwright's price objective indicates a potential upside of 390.80% from the company's current price.

Other equities analysts have also recently issued reports about the company. Chardan Capital set a $1.50 price target on Inhibikase Therapeutics and gave the company a "neutral" rating in a research report on Tuesday, October 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Inhibikase Therapeutics in a research note on Thursday, October 15th. Finally, Wall Street Zen lowered Inhibikase Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $4.75.

Inhibikase Therapeutics Trading Up 5.2%

IKT opened at $1.63 on Thursday. The company has a 50 day moving average of $1.94 and a 200 day moving average of $1.93. The company has a market cap of $227.44 million, a PE ratio of -4.07 and a beta of 0.94. Inhibikase Therapeutics has a 12 month low of $1.40 and a 12 month high of $2.61.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report) last issued its earnings results on Tuesday, November 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.01. Research analysts forecast that Inhibikase Therapeutics will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Spark Investment Management LLC bought a new position in shares of Inhibikase Therapeutics in the second quarter worth approximately $31,000. Renaissance Technologies LLC bought a new stake in Inhibikase Therapeutics during the first quarter valued at approximately $28,000. The Manufacturers Life Insurance Company bought a new stake in Inhibikase Therapeutics during the first quarter valued at approximately $48,000. Sei Investments Co. purchased a new position in Inhibikase Therapeutics in the 1st quarter worth approximately $81,000. Finally, Abel Hall LLC grew its stake in Inhibikase Therapeutics by 15.0% in the 3rd quarter. Abel Hall LLC now owns 53,311 shares of the company's stock worth $110,000 after buying an additional 6,959 shares in the last quarter. Hedge funds and other institutional investors own 3.81% of the company's stock.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing treatments for Parkinson's disease and other neurodegenerative disorders. The company's research centers on small-molecule inhibitors of Abelson tyrosine kinase, or c-Abl, a protein it is investigating for its role in neurodegeneration. Its pipeline has included IKT-148009, an oral c-Abl inhibitor being developed for Parkinson's disease. Inhibikase is based in Atlanta, Georgia, and conducts research and development in the pharmaceutical biotechnology sector.

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