Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Receives Average Rating of "Buy" from Analysts

Key Points

• Analysts broadly favor Inhibikase Therapeutics: Nine brokerages give the stock a consensus “Buy” rating, with an average 12-month price target of $5.40 versus its recent $2.06 price.
• The company reported a quarterly loss of $0.11 per share, missing the $0.09 analyst consensus; analysts expect a full-year loss of approximately $0.45 per share.
• Institutional ownership remains limited at 3.81%, though several hedge funds increased or initiated positions. Inhibikase is developing brain-penetrant drug candidates for neurodegenerative diseases linked to abnormal protein accumulation.

Inhibikase Therapeutics, Inc. (NASDAQ:IKT - Get Free Report) has been assigned a consensus recommendation of "Buy" from the nine brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $5.40.

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

Inhibikase Therapeutics Price Performance

Shares of NASDAQ:IKT opened at $2.06 on Monday. Inhibikase Therapeutics has a 12 month low of $1.33 and a 12 month high of $2.61. The firm has a market capitalization of $287.45 million, a P/E ratio of -4.79 and a beta of 0.95. The company's fifty day moving average price is $2.35 and its 200 day moving average price is $2.01.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). On average, sell-side analysts anticipate that Inhibikase Therapeutics will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sands Capital Alternatives LLC raised its stake 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 acquiring an additional 2,068,965 shares in the last quarter. Kalehua Capital Management LLC raised its stake in shares of Inhibikase Therapeutics by 118.4% in the 1st quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company's stock worth $6,421,000 after buying an additional 2,071,890 shares in the last quarter. Spruce Street Capital LP acquired a new stake in shares of Inhibikase Therapeutics in the fourth quarter valued at $7,342,000. SummitTX Capital L.P. bought a new position in Inhibikase Therapeutics during the first quarter valued at about $2,561,000. Finally, Ally Bridge Group NY LLC bought a new position in Inhibikase Therapeutics during the first quarter valued at about $2,226,000. 3.81% of the stock is owned by institutional investors and hedge funds.

About Inhibikase Therapeutics

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.

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