Inhibikase Therapeutics (NASDAQ:IKT) Rating Increased to Strong-Buy at LADENBURG THALM/SH SH

Key Points

• Inhibikase Therapeutics was upgraded to a strong-buy rating by LADENBURG THALM/SH SH, adding to a mixed but generally positive analyst backdrop for the stock.
• Other recent analyst moves include Oppenheimer initiating coverage with an outperform rating and a $5.00 price target, while MarketBeat says the consensus rating is Buy with an average target of $5.40.
• The stock opened at $1.96, well below the average analyst target, and the company remains a clinical-stage biotech with a recent quarterly EPS of -$0.10, matching expectations.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report) was upgraded by investment analysts at LADENBURG THALM/SH SH to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also recently issued reports on IKT. Oppenheimer assumed coverage on Inhibikase Therapeutics in a report on Wednesday, June 10th. They issued an "outperform" rating and a $5.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Inhibikase Therapeutics in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $5.40.

Inhibikase Therapeutics Price Performance

IKT stock opened at $1.96 on Monday. The business has a 50 day simple moving average of $1.82 and a 200-day simple moving average of $1.80. The firm has a market capitalization of $258.78 million, a PE ratio of -4.56 and a beta of 0.94. Inhibikase Therapeutics has a 1 year low of $1.33 and a 1 year high of $2.26.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IKT. BNP Paribas Financial Markets increased its position 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 acquiring an additional 6,458 shares during the last quarter. Barclays PLC lifted its holdings in shares of Inhibikase Therapeutics by 10.8% in the 4th quarter. Barclays PLC now owns 94,795 shares of the company's stock worth $194,000 after acquiring an additional 9,217 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of Inhibikase Therapeutics by 70.1% in the 4th quarter. Virtu Financial LLC now owns 22,869 shares of the company's stock worth $47,000 after acquiring an additional 9,423 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Inhibikase Therapeutics during the 4th quarter worth approximately $26,000. Finally, SG Americas Securities LLC purchased a new position in shares of Inhibikase Therapeutics during the 1st quarter worth approximately $26,000. Hedge funds and other institutional investors own 3.81% of the company's stock.

About Inhibikase Therapeutics

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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