Brokerages Set Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Price Target at $5.40

Shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) have been given an average recommendation of “Buy” by the nine brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $5.40.

IKT has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Friday, July 17th. LADENBURG THALM/SH SH raised Inhibikase Therapeutics to a “strong-buy” rating in a report on Monday, July 13th. Oppenheimer initiated coverage on Inhibikase Therapeutics in a research note on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Inhibikase Therapeutics in a report on Friday, July 31st.

Inhibikase Therapeutics Stock Performance

NASDAQ:IKT opened at $2.50 on Thursday. The company has a market cap of $348.85 million, a P/E ratio of -5.81 and a beta of 0.95. Inhibikase Therapeutics has a 52-week low of $1.33 and a 52-week high of $2.61. The stock’s 50-day simple moving average is $2.28 and its 200 day simple moving average is $1.97.

Inhibikase Therapeutics (NASDAQ:IKT) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). As a group, equities analysts predict that Inhibikase Therapeutics will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inhibikase Therapeutics

A number of large investors have recently made changes to their positions in the company. Sands Capital Alternatives LLC boosted its stake in Inhibikase Therapeutics by 18.9% in the 4th quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock valued at $26,689,000 after purchasing an additional 2,068,965 shares during the period. ADAR1 Capital Management LLC boosted its stake in shares of Inhibikase Therapeutics by 53.7% in the fourth quarter. ADAR1 Capital Management LLC now owns 8,063,949 shares of the company’s stock valued at $16,531,000 after buying an additional 2,816,346 shares during the period. Siren L.L.C. acquired a new stake in shares of Inhibikase Therapeutics during the 4th quarter worth $11,992,000. Commodore Capital LP increased its holdings in Inhibikase Therapeutics by 1.0% in the 2nd quarter. Commodore Capital LP now owns 5,397,488 shares of the company’s stock valued at $10,525,000 after buying an additional 53,056 shares during the period. Finally, Squadron Capital Management LLC acquired a new position in Inhibikase Therapeutics during the fourth quarter valued at approximately $8,661,000. 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.