Inhibikase Therapeutics (NYSE:IKT) Now Covered by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH began coverage on shares of Inhibikase Therapeutics (NYSE:IKT) in a research note released on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $4.00 price target on the stock.

Several other equities analysts also recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Inhibikase Therapeutics in a report on Friday, December 26th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Inhibikase Therapeutics in a report on Monday, December 29th. Cantor Fitzgerald began coverage on shares of Inhibikase Therapeutics in a report on Thursday, December 11th. They issued an “overweight” rating and a $4.00 target price on the stock. Finally, Bank of America started coverage on shares of Inhibikase Therapeutics in a research report on Wednesday, January 21st. They set a “buy” rating and a $6.00 target price for the company. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $5.50.

Inhibikase Therapeutics Stock Performance

Shares of NYSE IKT opened at $1.95 on Wednesday. The business’s 50-day simple moving average is $1.78 and its 200-day simple moving average is $1.66. Inhibikase Therapeutics has a 52 week low of $1.33 and a 52 week high of $2.58. The firm has a market cap of $146.59 million, a price-to-earnings ratio of -0.73 and a beta of 0.84.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Inhibikase Therapeutics by 1.5% in the third quarter. Vanguard Group Inc. now owns 3,273,339 shares of the company’s stock valued at $5,303,000 after buying an additional 48,969 shares during the period. Integral Health Asset Management LLC bought a new position in Inhibikase Therapeutics during the fourth quarter valued at about $3,588,000. Exome Asset Management LLC acquired a new position in Inhibikase Therapeutics in the 4th quarter valued at approximately $1,230,000. State Street Corp raised its holdings in Inhibikase Therapeutics by 9.3% in the 4th quarter. State Street Corp now owns 554,849 shares of the company’s stock valued at $1,137,000 after acquiring an additional 47,100 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Inhibikase Therapeutics in the 4th quarter worth approximately $348,000. Institutional investors and hedge funds own 3.81% of the company’s stock.

Inhibikase Therapeutics Company Profile

Inhibikase Therapeutics, Inc is a clinical-stage biopharmaceutical company engaged in the discovery and development of small-molecule kinase inhibitors for rare neurodegenerative diseases. Headquartered in New Haven, Connecticut, the company focuses on advancing therapies for central nervous system disorders with high unmet medical need. Its research platform targets key signaling pathways implicated in neuronal survival and degeneration.

The company’s lead investigational candidate, IKT-148009, is a brain-penetrant inhibitor of PDK1 and ABL kinases.