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

Key Points

• Analysts maintain a “Buy” consensus on Inhibikase Therapeutics, with four buy and three strong-buy ratings versus one hold and one sell. The average 12-month price target is $5.40, including HC Wainwright’s $8.00 target.
• IKT shares opened at $2.47, up 2.5%, with a market capitalization of approximately $326 million. The stock has traded between $1.33 and $2.53 over the past year.
• Institutional ownership remains limited at 3.81%, though firms including Goldman Sachs and Geode Capital Management significantly increased their positions recently.

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

Several analysts have recently issued reports on IKT shares. HC Wainwright reissued a "buy" rating and set a $8.00 price target on shares of Inhibikase Therapeutics in a research report on Friday, July 31st. Weiss Ratings restated a "sell (d-)" rating on shares of Inhibikase Therapeutics in a report on Friday, July 17th. 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. LADENBURG THALM/SH SH upgraded shares of Inhibikase Therapeutics to a "strong-buy" rating in a report on Monday, July 13th. Finally, Oppenheimer began coverage on shares of Inhibikase Therapeutics in a research report on Wednesday, June 10th. They issued an "outperform" rating and a $5.00 price target for the company.

Inhibikase Therapeutics Trading Up 2.5%

Shares of NASDAQ IKT opened at $2.47 on Friday. The stock has a market capitalization of $326.11 million, a PE ratio of -5.74 and a beta of 0.95. Inhibikase Therapeutics has a twelve month low of $1.33 and a twelve month high of $2.53. The stock has a fifty day simple moving average of $1.99 and a 200-day simple moving average of $1.86.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). On average, equities analysts predict that Inhibikase Therapeutics will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On Inhibikase Therapeutics

Several large investors have recently bought and sold shares of IKT. Goldman Sachs Group Inc. raised its position in Inhibikase Therapeutics by 277.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 166,025 shares of the company's stock valued at $364,000 after purchasing an additional 122,073 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Inhibikase Therapeutics during the first quarter worth about $255,000. Geode Capital Management LLC grew its position in shares of Inhibikase Therapeutics by 228.5% during the second quarter. Geode Capital Management LLC now owns 1,066,700 shares of the company's stock worth $2,080,000 after buying an additional 741,940 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Inhibikase Therapeutics during the second quarter worth approximately $56,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Inhibikase Therapeutics during the second quarter worth approximately $118,000. Hedge funds and other 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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