Inhibikase Therapeutics (NASDAQ:IKT) Stock Rating Upgraded by Wall Street Zen

Inhibikase Therapeutics (NASDAQ:IKT) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Sunday.

Several other analysts have also recently weighed in on IKT. LADENBURG THALM/SH SH raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, July 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Friday, July 17th. Finally, Oppenheimer assumed coverage on Inhibikase Therapeutics in a research note on Wednesday, June 10th. They set an “outperform” rating and a $5.00 target price for the company. Four equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Inhibikase Therapeutics has an average rating of “Buy” and a consensus target price of $5.40.

Inhibikase Therapeutics Stock Up 0.9%

Shares of IKT opened at $2.35 on Friday. Inhibikase Therapeutics has a 52-week low of $1.33 and a 52-week high of $2.53. The stock has a fifty day simple moving average of $1.88 and a two-hundred day simple moving average of $1.82. The company has a market capitalization of $310.27 million, a PE ratio of -5.46 and a beta of 0.94.

Inhibikase Therapeutics (NASDAQ:IKT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). As a group, equities analysts anticipate that Inhibikase Therapeutics will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inhibikase Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in Inhibikase Therapeutics by 595.3% in the 1st quarter. Bank of America Corp DE now owns 322,704 shares of the company’s stock valued at $542,000 after purchasing an additional 276,293 shares during the last quarter. Ally Bridge Group NY LLC acquired a new position in Inhibikase Therapeutics during the first quarter worth $2,226,000. The Manufacturers Life Insurance Company acquired a new position in Inhibikase Therapeutics during the first quarter worth $48,000. SummitTX Capital L.P. acquired a new position in Inhibikase Therapeutics during the first quarter worth $2,561,000. Finally, Kalehua Capital Management LLC boosted its position in shares of Inhibikase Therapeutics by 118.4% during the first 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 period. Hedge funds and other institutional investors 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.