Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Stock Has Consensus Target Price of $4.75

Key Points

• Analysts maintain a “Moderate Buy” consensus on Inhibikase Therapeutics, with four buy, three strong-buy, two hold, and one sell rating. The average 12-month price target is $4.75, including an $8.00 target from HC Wainwright.
• IKT shares opened at $1.63, below their 50-day and 200-day moving averages, with a 12-month trading range of $1.33 to $2.61 and a market capitalization of approximately $227.45 million.
• The clinical-stage biopharmaceutical company reported a quarterly loss of $0.11 per share, missing estimates by $0.02, while analysts expect a full-year loss of $0.43 per share. Its lead candidate, IkT-148009, is an oral c-Abl inhibitor being developed for neurological diseases including Parkinson’s disease.

Inhibikase Therapeutics, Inc. (NASDAQ:IKT - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the ten analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $4.75.

A number of research analysts recently commented on the company. LADENBURG THALM/SH SH upgraded Inhibikase Therapeutics to a "strong-buy" rating in a research note on Monday, July 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Inhibikase Therapeutics in a research note on Thursday, October 15th. HC Wainwright reissued a "buy" rating and issued a $8.00 price target on shares of Inhibikase Therapeutics in a report on Friday, July 31st. Chardan Capital set a $1.50 price target on shares of Inhibikase Therapeutics and gave the company a "neutral" rating in a report on Tuesday, October 13th. Finally, Wall Street Zen upgraded shares of Inhibikase Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Sunday, July 26th.

Inhibikase Therapeutics Stock Down 1.8%

Inhibikase Therapeutics stock opened at $1.63 on Friday. The business has a 50 day moving average price of $2.18 and a two-hundred day moving average price of $2.02. Inhibikase Therapeutics has a 12 month low of $1.33 and a 12 month high of $2.61. The stock has a market cap of $227.45 million, a price-to-earnings ratio of -3.79 and a beta of 0.89.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report) last announced its quarterly earnings data 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, analysts expect that Inhibikase Therapeutics will post -0.43 earnings per share for the current fiscal year.

Institutional Trading of Inhibikase Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kalehua Capital Management LLC raised its position in Inhibikase Therapeutics by 118.4% in the first quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company's stock worth $6,421,000 after purchasing an additional 2,071,890 shares in the last quarter. SummitTX Capital L.P. bought a new stake in shares of Inhibikase Therapeutics in the 1st quarter valued at approximately $2,561,000. Ally Bridge Group NY LLC bought a new stake in shares of Inhibikase Therapeutics in the 1st quarter valued at approximately $2,226,000. Bank of New York Mellon Corp bought a new stake in shares of Inhibikase Therapeutics in the 2nd quarter valued at approximately $615,000. Finally, Bank of America Corp DE raised its holdings in shares of Inhibikase Therapeutics by 595.3% in the 1st quarter. Bank of America Corp DE now owns 322,704 shares of the company's stock worth $542,000 after buying an additional 276,293 shares in the last quarter. Institutional investors own 3.81% of the company's stock.

Inhibikase Therapeutics Company Profile

Inhibikase Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule therapies for diseases associated with abnormal protein accumulation. The company's research has centered on neurological disorders, including Parkinson's disease and related synucleinopathies, as well as selected infectious and cancer-related indications.

Its lead investigational product, IkT-148009, is an orally administered, brain-penetrant inhibitor of Abelson tyrosine kinase, or c-Abl.

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