Inhibikase Therapeutics’ (IKT) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Inhibikase Therapeutics (NASDAQ:IKT) in a research note published on Thursday morning,Benzinga reports. The firm currently has a $8.00 target price on the stock.

Other analysts also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Thursday, October 15th. Chardan Capital set a $1.50 target price on shares of Inhibikase Therapeutics and gave the stock a “neutral” rating in a research note on Tuesday, October 13th. Finally, Wall Street Zen cut shares of Inhibikase Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Inhibikase Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $4.75.

Inhibikase Therapeutics Stock Down 0.7%

Shares of NASDAQ:IKT traded down $0.01 during midday trading on Thursday, hitting $1.52. The stock had a trading volume of 333,111 shares, compared to its average volume of 629,775. The company’s 50-day moving average price is $1.90 and its 200-day moving average price is $1.93. The company has a market capitalization of $213.21 million, a P/E ratio of -3.80 and a beta of 0.94. Inhibikase Therapeutics has a fifty-two week low of $1.40 and a fifty-two week high of $2.61.

Inhibikase Therapeutics (NASDAQ:IKT) last posted its quarterly earnings results on Tuesday, November 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. Research analysts expect that Inhibikase Therapeutics will post -0.43 EPS for the current fiscal year.

Institutional Trading of Inhibikase Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kalehua Capital Management LLC raised its holdings in Inhibikase Therapeutics by 118.4% in the 1st quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company’s stock valued at $6,421,000 after buying an additional 2,071,890 shares during the last quarter. SummitTX Capital L.P. bought a new stake in Inhibikase Therapeutics during the 1st quarter worth approximately $2,561,000. Ally Bridge Group NY LLC acquired a new position in Inhibikase Therapeutics in the 1st quarter valued at approximately $2,226,000. Seven Fleet Capital Management LP increased its position in Inhibikase Therapeutics by 6.5% in the 2nd quarter. Seven Fleet Capital Management LP now owns 346,900 shares of the company’s stock valued at $704,000 after acquiring an additional 21,300 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Inhibikase Therapeutics in the 2nd quarter valued at approximately $615,000. 3.81% of the stock is currently owned by institutional investors.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing treatments for Parkinson’s disease and other neurodegenerative disorders. The company’s research centers on small-molecule inhibitors of Abelson tyrosine kinase, or c-Abl, a protein it is investigating for its role in neurodegeneration. Its pipeline has included IKT-148009, an oral c-Abl inhibitor being developed for Parkinson’s disease. Inhibikase is based in Atlanta, Georgia, and conducts research and development in the pharmaceutical biotechnology sector.