Inhibikase Therapeutics (NASDAQ:IKT) Stock Rating Reaffirmed as Neutral by Chardan Capital

Key Points

• Chardan Capital reaffirmed its Neutral rating on Inhibikase Therapeutics, with a $1.50 price target—about 1% below the prior close.
• Analyst views are mixed, but the overall consensus is Moderate Buy, with an average price target of $4.75; HC Wainwright maintained a Buy rating and an $8 target.
• Shares traded at $1.51 and were near their 52-week low of $1.40. The company reported a quarterly loss of $0.10 per share, slightly better than the $0.11 loss analysts expected.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report)'s stock had its "neutral" rating restated by analysts at Chardan Capital in a research note issued to investors on Thursday, Benzinga reports. They currently have a $1.50 price target on the stock. Chardan Capital's price target indicates a potential downside of 0.99% from the company's previous close.

Several other brokerages have also recently commented on IKT. Wall Street Zen cut Inhibikase Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, October 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Inhibikase Therapeutics in a research report on Thursday, October 15th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $8.00 price target on shares of Inhibikase Therapeutics in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Inhibikase Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.75.

Inhibikase Therapeutics Price Performance

NASDAQ:IKT traded down $0.12 on Thursday, hitting $1.51. 347,881 shares of the company's stock were exchanged, compared to its average volume of 1,048,344. The firm has a 50-day moving average price of $1.94 and a 200-day moving average price of $1.93. Inhibikase Therapeutics has a 52 week low of $1.40 and a 52 week high of $2.61. The company has a market cap of $211.40 million, a P/E ratio of -3.79 and a beta of 0.94.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 10th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. On average, research analysts expect that Inhibikase Therapeutics will post -0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inhibikase Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Spark Investment Management LLC acquired a new position in Inhibikase Therapeutics during the second quarter worth approximately $31,000. Renaissance Technologies LLC acquired a new stake in shares of Inhibikase Therapeutics in the first quarter valued at approximately $28,000. The Manufacturers Life Insurance Company acquired a new stake in Inhibikase Therapeutics during the 1st quarter valued at $48,000. Sei Investments Co. bought a new position in Inhibikase Therapeutics during the first quarter worth $81,000. Finally, Abel Hall LLC boosted its position in Inhibikase Therapeutics by 15.0% during the third quarter. Abel Hall LLC now owns 53,311 shares of the company's stock worth $110,000 after purchasing an additional 6,959 shares during the period. 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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