Jefferies Financial Group Begins Coverage on Inhibikase Therapeutics (NYSE:IKT)

Jefferies Financial Group began coverage on shares of Inhibikase Therapeutics (NYSE:IKT) in a report published on Friday morning,Benzinga reports. The firm issued a buy rating and a $8.00 price objective on the stock.

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

Inhibikase Therapeutics Stock Performance

NYSE IKT opened at $2.87 on Friday. The stock’s fifty day moving average is $1.75 and its two-hundred day moving average is $1.58. The firm has a market capitalization of $21.41 million, a P/E ratio of -1.00 and a beta of 1.11. Inhibikase Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $3.82.

Inhibikase Therapeutics (NYSE:IKT) last announced 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). As a group, sell-side analysts forecast that Inhibikase Therapeutics will post -0.4 EPS for the current year.

Insiders Place Their Bets

In related news, Director Arvind Kush acquired 145,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were purchased 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.70% of the stock is currently owned by insiders.

Institutional Trading of Inhibikase Therapeutics

A hedge fund recently bought a new stake in Inhibikase Therapeutics stock. Armistice Capital LLC purchased a new position in Inhibikase Therapeutics, Inc. (NYSE:IKT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 589,575 shares of the company’s stock, valued at approximately $713,000. Armistice Capital LLC owned approximately 8.17% of Inhibikase Therapeutics as of its most recent SEC filing. Hedge funds and other 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.