Inhibikase Therapeutics (NASDAQ:IKT) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

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

Inhibikase Therapeutics Stock Performance

Shares of IKT stock opened at $1.63 on Friday. The stock has a market capitalization of $122.54 million, a P/E ratio of -4.18 and a beta of 0.76. The company has a 50 day moving average price of $1.77 and a 200 day moving average price of $1.67. Inhibikase Therapeutics has a fifty-two week low of $1.33 and a fifty-two week high of $2.42.

Wall Street Analysts Forecast Growth

IKT has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Inhibikase Therapeutics to a “hold” rating in a research report on Tuesday, December 2nd. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Inhibikase Therapeutics in a report on Friday, December 26th. Lifesci Capital raised Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, February 23rd. Jefferies Financial Group restated a “buy” rating on shares of Inhibikase Therapeutics in a research note on Monday, December 29th. Finally, LADENBURG THALM/SH SH started coverage on Inhibikase Therapeutics in a research report on Wednesday, March 4th. They set a “buy” rating and a $4.00 price target for the company. Four analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $5.50.

Hedge Funds Weigh In On Inhibikase Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Siren L.L.C. purchased a new position in Inhibikase Therapeutics in the fourth quarter valued at $11,992,000. Squadron Capital Management LLC purchased a new stake in Inhibikase Therapeutics during the 4th quarter worth about $8,661,000. Spruce Street Capital LP acquired a new position in shares of Inhibikase Therapeutics during the 4th quarter worth about $7,342,000. ADAR1 Capital Management LLC increased its holdings in shares of Inhibikase Therapeutics by 53.7% in the 4th quarter. ADAR1 Capital Management LLC now owns 8,063,949 shares of the company’s stock valued at $16,531,000 after acquiring an additional 2,816,346 shares during the last quarter. Finally, Sands Capital Alternatives LLC increased its holdings in shares of 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 acquiring an additional 2,068,965 shares during the last quarter. Hedge funds and other institutional investors own 3.81% of the company’s stock.

Inhibikase Therapeutics Company Profile

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.