Inhibikase Therapeutics Inc Down 0.43% To $2.29 After Earnings Beat

Inhibikase Therapeutics Inc (IKT) said after close Wednesday that it lost $0.64 per share in quarter four 2023. The company reported $1,000.00 in revenue

In the same quarter a year ago, the company lost $1.02 per share on revenue of $63.6 thousand.

The stock is down 0.43% to $2.29 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Inhibikase Therapeutics Inc has performed a little below average during the past few months. Before the report, Inhibikase Therapeutics Inc received a Long-Term Technical Rank by InvestorsObserver of 34, putting it in the bottom half of stocks. The firm set a 52-week low on October 10, 2023 at $0.79 and set a 52-week high on March 29, 2023 at $4.56.

Inhibikase Therapeutics Inc is a clinical-stage pharmaceutical company developing therapeutics for Parkinson's disease and related disorders. Its multi-therapeutic pipeline focuses on neurodegeneration and its lead program for IkT-148009, an Abelson Tyrosine Kinase (c-Abl) inhibitor, intends to treat Parkinson's disease inside and outside the brain. The company is performing its Phase I, randomized single ascending dose and multiple ascending dose, study to determine the safety, tolerability and pharmacokinetics of IkT-148009 in older and healthy subjects. It is also advancing a novel drug delivery platform to treat certain forms of cancer at the same time as it is developing novel drugs for the treatment of neurodegenerative disease.