Inhibikase Therapeutics (NASDAQ:IKT) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Inhibikase Therapeutics (NASDAQ:IKT) issued its earnings results on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01, FiscalAI reports.

Inhibikase Therapeutics Trading Down 7.7%

NASDAQ:IKT traded down $0.13 during midday trading on Tuesday, hitting $1.55. 483,851 shares of the company traded hands, compared to its average volume of 1,054,759. The firm’s fifty day moving average is $1.97 and its 200-day moving average is $1.93. Inhibikase Therapeutics has a 12-month low of $1.40 and a 12-month high of $2.61. The firm has a market capitalization of $216.29 million, a P/E ratio of -3.60 and a beta of 0.94.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IKT. SG Americas Securities LLC bought a new position in Inhibikase Therapeutics in the 1st quarter valued at $26,000. Renaissance Technologies LLC bought a new position in Inhibikase Therapeutics in the 1st quarter worth about $28,000. Spark Investment Management LLC bought a new position in Inhibikase Therapeutics in the 2nd quarter worth about $31,000. The Manufacturers Life Insurance Company bought a new position in Inhibikase Therapeutics in the 1st quarter worth about $48,000. Finally, Sei Investments Co. purchased a new position in shares of Inhibikase Therapeutics during the first quarter worth approximately $81,000. Institutional investors own 3.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IKT shares. Wall Street Zen lowered shares of Inhibikase Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, October 31st. Chardan Capital set a $1.50 target price on shares of Inhibikase Therapeutics and gave the stock a “neutral” rating in a research report on Tuesday, October 13th. LADENBURG THALM/SH SH raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a report on Monday, July 13th. HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Inhibikase Therapeutics in a research report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Thursday, October 15th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.75.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing small-molecule therapies for neurodegenerative diseases. The company’s research is based on the role of Abelson tyrosine kinase, or c-Abl, and related disease mechanisms involved in the formation and spread of abnormal proteins associated with neurological disorders. Its lead investigational product, IKT-148009, is an orally administered, brain-penetrant c-Abl inhibitor being developed as a potential disease-modifying treatment for Parkinson’s disease and related synucleinopathies.