Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Stock Has Average Price Target of $4.75 According to Brokerages

Shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) have been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $4.75.

A number of analysts recently issued reports on the company. Chardan Capital set a $1.50 target price on Inhibikase Therapeutics and gave the company a “neutral” rating in a research report on Tuesday, October 13th. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of Inhibikase Therapeutics in a research note on Friday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Thursday, October 15th. LADENBURG THALM/SH SH upgraded shares of Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Wall Street Zen upgraded Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 26th.

Inhibikase Therapeutics Stock Performance

IKT opened at $1.59 on Friday. The stock has a market capitalization of $221.87 million, a P/E ratio of -3.70 and a beta of 0.89. The firm’s fifty day simple moving average is $2.16 and its 200 day simple moving average is $2.02. Inhibikase Therapeutics has a 12 month low of $1.33 and a 12 month high of $2.61.

Inhibikase Therapeutics (NASDAQ:IKT) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). On average, equities research analysts predict that Inhibikase Therapeutics will post -0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Inhibikase Therapeutics

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Inhibikase Therapeutics during the first quarter worth $26,000. Renaissance Technologies LLC bought a new position in Inhibikase Therapeutics during the first quarter worth $28,000. Spark Investment Management LLC acquired a new position in shares of Inhibikase Therapeutics in the 2nd quarter valued at about $31,000. The Manufacturers Life Insurance Company acquired a new position in Inhibikase Therapeutics in the first quarter valued at approximately $48,000. Finally, Sei Investments Co. bought a new position in Inhibikase Therapeutics during the first quarter worth $81,000. 3.81% of the stock is currently owned by institutional investors and hedge funds.

Inhibikase Therapeutics Company Profile

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.