Inhibikase Therapeutics (NASDAQ:IKT) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Inhibikase Therapeutics (NASDAQ:IKT) announced its earnings results on Tuesday. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02), FiscalAI reports.

Inhibikase Therapeutics Stock Up 1.0%

Shares of IKT stock traded up $0.03 on Thursday, reaching $2.42. The stock had a trading volume of 151,638 shares, compared to its average volume of 1,248,732. Inhibikase Therapeutics has a 12 month low of $1.33 and a 12 month high of $2.53. The firm has a market capitalization of $320.17 million, a price-to-earnings ratio of -5.64 and a beta of 0.95. The firm’s 50-day moving average is $2.03 and its two-hundred day moving average is $1.87.

Institutional Trading of Inhibikase Therapeutics

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its stake in Inhibikase Therapeutics by 70.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock valued at $25,000 after acquiring an additional 6,458 shares during the period. SG Americas Securities LLC bought a new position in Inhibikase Therapeutics in the 1st quarter valued at about $26,000. Sanctuary Advisors LLC bought a new position in shares of Inhibikase Therapeutics during the fourth quarter worth approximately $26,000. Renaissance Technologies LLC acquired a new position in Inhibikase Therapeutics in the 1st quarter valued at $28,000. Finally, XTX Topco Ltd bought a new position in Inhibikase Therapeutics during the 4th quarter worth $42,000. 3.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.