Inhibikase Therapeutics (NASDAQ:IKT) Stock Price Down 4.1% - What's Next?

Key Points

• Inhibikase Therapeutics shares fell 4.1% to $2.31, with trading volume 33% below the average session volume.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $5.40, despite ratings ranging from “Sell” to “Strong Buy.”
• The company reported a quarterly loss of $0.11 per share, missing the $0.09 consensus estimate; analysts expect a full-year loss of $0.44 per share.

Inhibikase Therapeutics, Inc. (NASDAQ:IKT - Get Free Report)'s stock price was down 4.1% during trading on Monday . The stock traded as low as $2.30 and last traded at $2.31. 329,851 shares changed hands during trading, a decline of 33% from the average session volume of 493,882 shares. The stock had previously closed at $2.41.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IKT. Wall Street Zen upgraded Inhibikase Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Sunday, July 26th. Oppenheimer assumed coverage on Inhibikase Therapeutics in a research report on Wednesday, June 10th. They set an "outperform" rating and a $5.00 price target for the company. HC Wainwright reissued a "buy" rating and issued a $8.00 target price on shares of Inhibikase Therapeutics in a research note on Friday, July 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of Inhibikase Therapeutics in a report on Friday, July 17th. Finally, LADENBURG THALM/SH SH upgraded Inhibikase Therapeutics to a "strong-buy" rating in a report on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Inhibikase Therapeutics currently has a consensus rating of "Buy" and an average price target of $5.40.

Inhibikase Therapeutics Stock Performance

The company's 50-day simple moving average is $2.22 and its 200 day simple moving average is $1.95. The company has a market cap of $322.34 million, a PE ratio of -5.37 and a beta of 0.95.

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 (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Analysts forecast that Inhibikase Therapeutics, Inc. will post -0.44 EPS for the current year.

Hedge Funds Weigh In On Inhibikase Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in Inhibikase Therapeutics by 70.3% in 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 in the last quarter. SG Americas Securities LLC acquired a new position in Inhibikase Therapeutics during the 1st quarter worth approximately $26,000. Sanctuary Advisors LLC acquired a new position in Inhibikase Therapeutics during the 4th quarter worth approximately $26,000. Renaissance Technologies LLC purchased a new stake in shares of Inhibikase Therapeutics in the 1st quarter valued at approximately $28,000. Finally, XTX Topco Ltd purchased a new stake in shares of Inhibikase Therapeutics in the 4th quarter valued at approximately $42,000. 3.81% of the stock is owned by institutional investors and hedge funds.

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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