Inhibikase Therapeutics (NASDAQ:IKT) Releases Earnings Results

Inhibikase Therapeutics (NASDAQ:IKT) announced its quarterly earnings data on Thursday. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03, FiscalAI reports.

Inhibikase Therapeutics Price Performance

NASDAQ IKT opened at $1.68 on Friday. The company has a fifty day moving average of $1.78 and a two-hundred day moving average of $1.67. The company has a market capitalization of $126.30 million, a PE ratio of -3.50 and a beta of 0.76. Inhibikase Therapeutics has a 1 year low of $1.33 and a 1 year high of $2.39.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Bank of America began coverage on Inhibikase Therapeutics in a report on Wednesday, January 21st. They issued a “buy” rating and a $6.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Inhibikase Therapeutics in a research report on Friday, December 26th. Jefferies Financial Group reiterated a “buy” rating on shares of Inhibikase Therapeutics in a report on Monday, December 29th. Wall Street Zen raised Inhibikase Therapeutics to a “sell” rating in a research report on Saturday, December 27th. Finally, Zacks Research upgraded Inhibikase Therapeutics to a “hold” rating in a research note on Tuesday, December 2nd. Four investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $5.50.

Institutional Trading of Inhibikase Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Inhibikase Therapeutics by 277.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 166,025 shares of the company’s stock valued at $364,000 after purchasing an additional 122,073 shares during the period. Jane Street Group LLC purchased a new stake in Inhibikase Therapeutics in the first quarter valued at approximately $255,000. Geode Capital Management LLC boosted its holdings in shares of Inhibikase Therapeutics by 228.5% in the second quarter. Geode Capital Management LLC now owns 1,066,700 shares of the company’s stock valued at $2,080,000 after acquiring an additional 741,940 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Inhibikase Therapeutics in the second quarter valued at approximately $34,000. Finally, Intech Investment Management LLC purchased a new position in shares of Inhibikase Therapeutics during the second quarter worth approximately $61,000. 3.81% of the stock is owned by hedge funds and other institutional investors.

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.