Inhibikase Therapeutics (NYSE:IKT) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Inhibikase Therapeutics (NYSE:IKT) in a research report sent to investors on Friday,Benzinga reports. The firm issued a buy rating and a $8.00 price target on the stock.

Separately, HC Wainwright decreased their price target on shares of 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 Price Performance

NYSE:IKT opened at $2.87 on Friday. The firm has a market cap of $21.41 million, a PE ratio of -1.00 and a beta of 1.11. The firm has a 50 day simple moving average of $1.75 and a 200-day simple moving average of $1.58. Inhibikase Therapeutics has a 1-year low of $0.80 and a 1-year high of $3.82.

Inhibikase Therapeutics (NYSE:IKT) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.08). As a group, sell-side analysts expect 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 bought 145,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were acquired at an average cost of $1.37 per share, for a total transaction of $198,650.00. Following the acquisition, the director now owns 145,000 shares in the company, valued at $198,650. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Inhibikase Therapeutics

An institutional investor recently bought a new position in Inhibikase Therapeutics stock. Armistice Capital LLC bought a new stake in shares of Inhibikase Therapeutics, Inc. (NYSE:IKT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 589,575 shares of the company’s stock, valued at approximately $713,000. Armistice Capital LLC owned approximately 8.17% of Inhibikase Therapeutics at the end of the most recent reporting period. Institutional investors own 3.81% of the company’s stock.

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.