Inhibikase Therapeutics, Inc. (NYSE:IKT) to Post Q2 2023 Earnings of ($0.15) Per Share, HC Wainwright Forecasts

Posted by on May 19th, 2023

Inhibikase Therapeutics, Inc. (NYSE:IKT – Get Rating) – Analysts at HC Wainwright lifted their Q2 2023 earnings estimates for shares of Inhibikase Therapeutics in a research report issued to clients and investors on Tuesday, May 16th. HC Wainwright analyst E. White now anticipates that the company will post earnings of ($0.15) per share for the quarter, up from their previous estimate of ($0.16). HC Wainwright has a “Buy” rating on the stock. The consensus estimate for Inhibikase Therapeutics’ current full-year earnings is ($0.64) per share. HC Wainwright also issued estimates for Inhibikase Therapeutics’ FY2023 earnings at ($0.65) EPS.

Inhibikase Therapeutics Price Performance

NYSE IKT opened at $0.63 on Thursday. The company has a market cap of $19.46 million, a P/E ratio of -0.91 and a beta of 0.93. The stock has a 50-day moving average of $0.62 and a two-hundred day moving average of $0.63. Inhibikase Therapeutics has a 1-year low of $0.44 and a 1-year high of $1.21.

Inhibikase Therapeutics (NYSE:IKT – Get Rating) last issued its quarterly earnings data on Friday, March 31st. The company reported ($0.17) earnings per share (EPS) for the quarter. The company had revenue of $0.06 million during the quarter. Inhibikase Therapeutics had a negative net margin of 12,511.89% and a negative return on equity of 70.86%.

Hedge Funds Weigh In On Inhibikase Therapeutics

Several institutional investors have recently bought and sold shares of the company. Armistice Capital LLC acquired a new position in Inhibikase Therapeutics in the 1st quarter valued at about $1,947,000. Blair William & Co. IL grew its position in shares of Inhibikase Therapeutics by 20.5% during the first quarter. Blair William & Co. IL now owns 276,000 shares of the company’s stock worth $181,000 after buying an additional 47,000 shares in the last quarter. Hamilton Lane Advisors LLC purchased a new stake in shares of Inhibikase Therapeutics during the first quarter worth approximately $54,000. Renaissance Technologies LLC increased its stake in shares of Inhibikase Therapeutics by 17.7% during the second quarter. Renaissance Technologies LLC now owns 221,900 shares of the company’s stock worth $165,000 after buying an additional 33,431 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Inhibikase Therapeutics by 10.7% during the first quarter. Vanguard Group Inc. now owns 530,098 shares of the company’s stock worth $785,000 after buying an additional 51,394 shares during the period. 12.08% of the stock is owned by institutional investors and hedge funds.

About Inhibikase Therapeutics

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Inhibikase Therapeutics, Inc, a clinical stage pharmaceutical company, develops therapeutics for Parkinson's Disease (PD) and related disorders that arise inside and outside of the brain. The company's product candidates include IkT-148009, a small molecule Abelson tyrosine kinase inhibitor for use in the treatment of PD, as well as gastrointestinal complications that arise as early symptoms of PD, such as swallowing, dysphagia, neurogenic constipation, and multiple system atrophy; and IkT-001Pro, a prodrug of the anti-cancer agent Imatinib that is in preclinical development to minimize gastrointestinal side effects and for the treatment of blood and stomach cancers.

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