Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Given Average Rating of "Buy" by Brokerages

Key Points

• Inhibikase Therapeutics has an average analyst rating of "Buy" from nine brokerages, with a 12-month price target of $5.40. The ratings are mixed, including one sell, one hold, three buys, and four strong buys.
• Several firms recently changed their views on the stock, including Ladenburg Thalmann upgrading it to strong-buy and Oppenheimer initiating coverage with an outperform rating and a $5.00 target.
• The company reported its latest quarterly EPS at -$0.10, matching expectations, while analysts forecast -0.4 EPS for the current year. Shares recently traded at $2.06, near the middle of their 52-week range of $1.33 to $2.36.

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

Several brokerages have issued reports on IKT. Weiss Ratings reiterated a "sell (d-)" rating on shares of Inhibikase Therapeutics in a research note on Tuesday, April 21st. LADENBURG THALM/SH SH upgraded shares of Inhibikase Therapeutics to a "strong-buy" rating in a research note on Monday. Finally, Oppenheimer assumed coverage on Inhibikase Therapeutics in a report on Wednesday, June 10th. They issued an "outperform" rating and a $5.00 price objective for the company.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sands Capital Alternatives LLC increased its position in shares of Inhibikase Therapeutics by 18.9% during the 4th quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company's stock worth $26,689,000 after purchasing an additional 2,068,965 shares during the last quarter. ADAR1 Capital Management LLC boosted its holdings in shares of Inhibikase Therapeutics by 53.7% in the 4th quarter. ADAR1 Capital Management LLC now owns 8,063,949 shares of the company's stock valued at $16,531,000 after buying an additional 2,816,346 shares during the last quarter. Siren L.L.C. bought a new position in shares of Inhibikase Therapeutics in the fourth quarter valued at $11,992,000. Commodore Capital LP grew its stake in shares of Inhibikase Therapeutics by 1.0% in the second quarter. Commodore Capital LP now owns 5,397,488 shares of the company's stock valued at $10,525,000 after buying an additional 53,056 shares in the last quarter. Finally, Squadron Capital Management LLC acquired a new position in Inhibikase Therapeutics during the fourth quarter worth $8,661,000. 3.81% of the stock is owned by institutional investors and hedge funds.

Inhibikase Therapeutics Stock Performance

NASDAQ IKT opened at $2.06 on Wednesday. Inhibikase Therapeutics has a 52 week low of $1.33 and a 52 week high of $2.36. The stock's 50 day moving average price is $1.82 and its two-hundred day moving average price is $1.80. The stock has a market capitalization of $271.98 million, a price-to-earnings ratio of -4.79 and a beta of 0.94.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). On average, equities research analysts forecast that Inhibikase Therapeutics will post -0.4 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.