HC Wainwright Lowers Inhibikase Therapeutics (NYSE:IKT) Price Target to $5.00

Inhibikase Therapeutics (NYSE:IKT) had its price objective lowered by HC Wainwright from $15.00 to $5.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Inhibikase Therapeutics Stock Performance

Shares of IKT opened at $1.59 on Monday. The stock’s 50-day simple moving average is $1.30 and its 200 day simple moving average is $1.52. The stock has a market capitalization of $11.47 million, a price-to-earnings ratio of -0.48 and a beta of 1.32. Inhibikase Therapeutics has a 52-week low of $0.80 and a 52-week high of $3.82.

Inhibikase Therapeutics (NYSE:IKT) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.08). On average, research analysts forecast that Inhibikase Therapeutics will post -2.75 earnings per share for the current fiscal year.

Institutional Trading of Inhibikase Therapeutics

A hedge fund recently bought a new stake in Inhibikase Therapeutics stock. Armistice Capital LLC bought a new position in Inhibikase Therapeutics, Inc. (NYSE:IKT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 589,575 shares of the company’s stock, valued at approximately $713,000. Armistice Capital LLC owned about 8.17% of Inhibikase Therapeutics as of its most recent SEC filing. 3.81% of the stock is owned by institutional investors and hedge funds.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc, a clinical-stage pharmaceutical company, develops therapeutics for Parkinson’s disease and related disorders. Its lead product candidate is IkT-148009, a non-receptor Abelson tyrosine kinase inhibitor, which is in Phase 2a clinical trials to the treatment of Parkinson’s disease and gastrointestinal tract.