Inhibikase Therapeutics (NYSE:IKT) Downgraded to Neutral Rating by HC Wainwright

HC Wainwright cut shares of Inhibikase Therapeutics (NYSE:IKT) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, Marketbeat Ratings reports.

Separately, Jefferies Financial Group assumed coverage on shares of Inhibikase Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $8.00 target price for the company.

Inhibikase Therapeutics Price Performance

Shares of NYSE:IKT opened at $2.26 on Wednesday. The company has a market capitalization of $156.75 million, a P/E ratio of -0.85 and a beta of 1.06. Inhibikase Therapeutics has a 1-year low of $1.12 and a 1-year high of $4.20. The firm’s 50 day simple moving average is $2.91 and its two-hundred day simple moving average is $2.17.

Institutional Investors Weigh In On Inhibikase Therapeutics

A hedge fund recently raised its stake in Inhibikase Therapeutics stock. Blair William & Co. IL boosted its stake in shares of Inhibikase Therapeutics, Inc. (NYSE:IKT) by 7.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 134,953 shares of the company’s stock after acquiring an additional 8,833 shares during the period. Blair William & Co. IL owned 0.19% of Inhibikase Therapeutics worth $439,000 at the end of the most recent quarter. 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.