Inhibikase Therapeutics (NASDAQ:IKT) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Inhibikase Therapeutics (NASDAQ:IKT) from a sell rating to a strong sell rating in a report released on Saturday.

Other research analysts have also issued research reports about the company. Oppenheimer began coverage on Inhibikase Therapeutics in a report on Wednesday, June 10th. They set an “outperform” rating and a $5.00 price objective on the stock. LADENBURG THALM/SH SH raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Inhibikase Therapeutics has an average rating of “Buy” and an average price target of $5.40.

Inhibikase Therapeutics Trading Up 5.0%

Shares of Inhibikase Therapeutics stock opened at $2.11 on Friday. Inhibikase Therapeutics has a 52 week low of $1.33 and a 52 week high of $2.36. The stock has a market cap of $278.58 million, a PE ratio of -4.91 and a beta of 0.94. The company’s 50-day moving average price is $1.83 and its two-hundred day moving average price is $1.81.

Inhibikase Therapeutics (NASDAQ:IKT) last released its earnings results on Tuesday, May 12th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). On average, equities analysts predict that Inhibikase Therapeutics will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Inhibikase Therapeutics

Large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of Inhibikase Therapeutics in the fourth quarter valued at $26,000. SG Americas Securities LLC bought a new position in shares of Inhibikase Therapeutics during the first quarter worth approximately $26,000. BNP Paribas Financial Markets increased its position in Inhibikase Therapeutics by 70.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock worth $25,000 after buying an additional 6,458 shares during the period. Renaissance Technologies LLC bought a new stake in Inhibikase Therapeutics in the 1st quarter valued at about $28,000. Finally, XTX Topco Ltd bought a new stake in shares of Inhibikase Therapeutics in the fourth quarter valued at approximately $42,000. Institutional investors own 3.81% of the company’s stock.

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.