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

Key Points

• Analysts have a consensus “Buy” rating on Inhibikase Therapeutics, with four buys, three strong buys, one hold and one sell among nine brokerages. The average 12-month price target is $5.40.
• IKT shares opened at $2.50, near their 52-week high of $2.54, with a market capitalization of approximately $348.9 million. The stock’s 50-day and 200-day moving averages are $2.24 and $1.96, respectively.
• The company reported a quarterly loss of $0.11 per share, missing the consensus estimate of a $0.09 loss; analysts expect a full-year loss of $0.44 per share.

Shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT - Get Free Report) have been assigned an average recommendation of "Buy" from the nine brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $5.40.

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

Inhibikase Therapeutics Stock Performance

Shares of IKT stock opened at $2.50 on Thursday. Inhibikase Therapeutics has a 52-week low of $1.33 and a 52-week high of $2.54. The firm has a market capitalization of $348.85 million, a P/E ratio of -5.81 and a beta of 0.95. The stock has a 50 day moving average price of $2.24 and a 200 day moving average price of $1.96.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). As a group, sell-side analysts forecast that Inhibikase Therapeutics will post -0.44 EPS for the current year.

Institutional Trading of Inhibikase Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in shares of Inhibikase Therapeutics by 70.3% during the third quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company's stock valued at $25,000 after purchasing an additional 6,458 shares in the last quarter. Barclays PLC raised its stake in Inhibikase Therapeutics by 10.8% in the fourth quarter. Barclays PLC now owns 94,795 shares of the company's stock worth $194,000 after buying an additional 9,217 shares in the last quarter. Virtu Financial LLC raised its stake in Inhibikase Therapeutics by 70.1% in the fourth quarter. Virtu Financial LLC now owns 22,869 shares of the company's stock worth $47,000 after buying an additional 9,423 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Inhibikase Therapeutics during the fourth quarter worth $26,000. Finally, SG Americas Securities LLC purchased a new stake in Inhibikase Therapeutics during the first quarter worth $26,000. Institutional investors own 3.81% of the company's stock.

Inhibikase Therapeutics Company Profile

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.

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