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

Jefferies Financial Group assumed coverage on shares of Inhibikase Therapeutics (NYSE:IKT) in a report issued on Friday,Benzinga reports. The brokerage issued a buy rating and a $8.00 target price 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 for the company in a report on Monday, October 14th.

Inhibikase Therapeutics Price Performance

Shares of IKT traded up $0.10 during mid-day trading on Friday, reaching $2.88. The company’s stock had a trading volume of 1,568,317 shares, compared to its average volume of 354,707. The business has a fifty day moving average of $1.72 and a 200 day moving average of $1.57. 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 (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.08). Equities analysts forecast that Inhibikase Therapeutics will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Arvind Kush bought 145,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were bought at an average cost of $1.37 per share, with a total value of $198,650.00. Following the acquisition, the director now owns 145,000 shares in the company, valued at $198,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.70% of the company’s stock.

Institutional Trading of Inhibikase Therapeutics

An institutional investor recently bought a new position in Inhibikase Therapeutics stock. Armistice Capital LLC acquired a new position in shares of Inhibikase Therapeutics, Inc. (NYSE:IKT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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. 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 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.