Inhibikase Therapeutics’ (IKT) “Neutral” Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their neutral rating on shares of Inhibikase Therapeutics (NASDAQ:IKT) in a research report sent to investors on Thursday,Benzinga reports. Chardan Capital currently has a $1.50 price target on the stock.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Thursday, October 15th. Wall Street Zen lowered shares of Inhibikase Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, October 31st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Inhibikase Therapeutics in a research report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.75.

Inhibikase Therapeutics Trading Down 0.7%

NASDAQ IKT traded down $0.01 during mid-day trading on Thursday, hitting $1.52. The company’s stock had a trading volume of 333,111 shares, compared to its average volume of 629,775. The company’s 50 day simple moving average is $1.90 and its 200 day simple moving average is $1.93. Inhibikase Therapeutics has a twelve month low of $1.40 and a twelve month high of $2.61. The firm has a market capitalization of $213.21 million, a price-to-earnings ratio of -3.80 and a beta of 0.94.

Inhibikase Therapeutics (NASDAQ:IKT) last announced its quarterly earnings results on Tuesday, November 10th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. As a group, research analysts forecast that Inhibikase Therapeutics will post -0.43 EPS for the current year.

Hedge Funds Weigh In On Inhibikase Therapeutics

Large investors have recently bought and sold shares of the stock. Kalehua Capital Management LLC boosted its stake in shares of Inhibikase Therapeutics by 118.4% in the 1st quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company’s stock worth $6,421,000 after buying an additional 2,071,890 shares during the last quarter. SummitTX Capital L.P. purchased a new stake in shares of Inhibikase Therapeutics during the first quarter valued at approximately $2,561,000. Ally Bridge Group NY LLC purchased a new stake in shares of Inhibikase Therapeutics during the first quarter valued at approximately $2,226,000. Bank of New York Mellon Corp bought a new stake in Inhibikase Therapeutics during the second quarter worth $615,000. Finally, Bank of America Corp DE lifted its holdings in Inhibikase Therapeutics by 595.3% during the first quarter. Bank of America Corp DE now owns 322,704 shares of the company’s stock worth $542,000 after acquiring an additional 276,293 shares during the period. 3.81% of the stock is currently owned by institutional investors.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing treatments for Parkinson’s disease and other neurodegenerative disorders. The company’s research centers on small-molecule inhibitors of Abelson tyrosine kinase, or c-Abl, a protein it is investigating for its role in neurodegeneration. Its pipeline has included IKT-148009, an oral c-Abl inhibitor being developed for Parkinson’s disease. Inhibikase is based in Atlanta, Georgia, and conducts research and development in the pharmaceutical biotechnology sector.