Inhibikase Therapeutics (NASDAQ:IKT) Releases Earnings Results, Misses Estimates By $0.02 EPS

Inhibikase Therapeutics (NASDAQ:IKT) released its earnings results on Tuesday. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02), FiscalAI reports.

Inhibikase Therapeutics Trading Down 0.4%

NASDAQ:IKT traded down $0.01 during mid-day trading on Tuesday, hitting $2.45. The company had a trading volume of 580,141 shares, compared to its average volume of 1,262,244. The business has a fifty day simple moving average of $2.01 and a 200-day simple moving average of $1.86. The firm has a market capitalization of $323.47 million, a price-to-earnings ratio of -5.70 and a beta of 0.95. Inhibikase Therapeutics has a 1 year low of $1.33 and a 1 year high of $2.53.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Inhibikase Therapeutics

A number of large investors have recently modified their holdings of IKT. Kalehua Capital Management LLC grew its position in Inhibikase Therapeutics by 118.4% in the first quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company’s stock valued at $6,421,000 after acquiring an additional 2,071,890 shares in the last quarter. Ally Bridge Group NY LLC acquired a new position in shares of Inhibikase Therapeutics during the first quarter worth $2,226,000. SummitTX Capital L.P. acquired a new position in shares of Inhibikase Therapeutics during the first quarter worth $2,561,000. Spruce Street Capital LP acquired a new position in shares of Inhibikase Therapeutics during the fourth quarter worth $7,342,000. Finally, Sands Capital Alternatives LLC boosted its stake in shares of Inhibikase Therapeutics by 18.9% in the fourth quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock valued at $26,689,000 after purchasing an additional 2,068,965 shares during the period. Institutional investors and hedge funds 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.