Inhibikase Therapeutics (NASDAQ:IKT) Rating Lowered to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Inhibikase Therapeutics from sell to strong sell, even though other analysts remain more constructive on the stock overall.
• The broader analyst view is still relatively positive, with a consensus rating of Buy and an average price target of $5.40, while the latest reported quarterly EPS of ($0.10) matched estimates.
• The stock was trading higher at $2.11, near its 52-week range of $1.33 to $2.36, and the company remains a clinical-stage biotech focused on Parkinson's disease and related disorders.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the company. LADENBURG THALM/SH SH raised Inhibikase Therapeutics to a "strong-buy" rating in a research note on Monday, July 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Inhibikase Therapeutics in a research report on Tuesday, April 21st. Finally, Oppenheimer initiated coverage on shares of Inhibikase Therapeutics in a research note on Wednesday, June 10th. They issued an "outperform" rating and a $5.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $5.40.

Inhibikase Therapeutics Trading Up 5.0%

NASDAQ IKT opened at $2.11 on Friday. Inhibikase Therapeutics has a 1-year low of $1.33 and a 1-year high of $2.36. The firm's fifty day simple moving average is $1.83 and its 200-day simple moving average is $1.81. The company has a market capitalization of $278.58 million, a PE ratio of -4.91 and a beta of 0.94.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.10). As a group, analysts predict that Inhibikase Therapeutics will post -0.42 EPS for the current year.

Institutional Trading of Inhibikase Therapeutics

Several large investors have recently made changes to their positions in IKT. Bank of America Corp DE increased its holdings in shares of Inhibikase Therapeutics by 595.3% during the 1st quarter. Bank of America Corp DE now owns 322,704 shares of the company's stock valued at $542,000 after acquiring an additional 276,293 shares during the last quarter. Ally Bridge Group NY LLC acquired a new stake in Inhibikase Therapeutics in the 1st quarter worth approximately $2,226,000. The Manufacturers Life Insurance Company acquired a new stake in Inhibikase Therapeutics in the 1st quarter worth approximately $48,000. SummitTX Capital L.P. bought a new stake in Inhibikase Therapeutics during the first quarter worth approximately $2,561,000. Finally, Kalehua Capital Management LLC boosted its position in Inhibikase Therapeutics by 118.4% during 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 during the period. 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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