Inhibikase Therapeutics (NYSE:IKT) Coverage Initiated at Jefferies Financial Group

Investment analysts at Jefferies Financial Group initiated coverage on shares of Inhibikase Therapeutics (NYSE:IKT) in a report released on Friday,Benzinga reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 177.78% from the company’s previous close.

Separately, HC Wainwright decreased their target price on Inhibikase Therapeutics from $15.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, October 14th.

Inhibikase Therapeutics Stock Up 3.6 %

NYSE:IKT traded up $0.10 on Friday, reaching $2.88. The stock had a trading volume of 1,568,317 shares, compared to its average volume of 354,707. The company has a market capitalization of $21.48 million, a P/E ratio of -1.00 and a beta of 1.11. Inhibikase Therapeutics has a 1-year low of $0.80 and a 1-year high of $3.82. The stock has a fifty day moving average price of $1.72 and a 200-day moving average price of $1.57.

Inhibikase Therapeutics (NYSE:IKT) last announced its earnings results on Wednesday, August 14th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.08). Sell-side analysts predict that Inhibikase Therapeutics will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Inhibikase Therapeutics

In related news, Director Arvind Kush purchased 145,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was acquired at an average price of $1.37 per share, with a total value of $198,650.00. Following the completion of the acquisition, the director now directly owns 145,000 shares in the company, valued at approximately $198,650. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 14.70% of the stock is owned by company insiders.

Institutional Trading of Inhibikase Therapeutics

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