Dow Surges 350 Points; US Crude Oil Stocks Increase

Written by Emily J. Thompson, Senior Investment Analyst

IKT-0.94%

BNZI-1.18%

MNTS-7.77%

Source: Benzinga

Updated: Oct 09 2024

0mins

Source: Benzinga

U.S. Stock Market Performance: U.S. stocks saw gains with the Dow Jones increasing over 350 points, while financial shares rose by 0.8%. Notable stock movements included Momentus Inc. surging 125% after a NASA contract announcement and Sacks Parente Golf dropping 52% following a public offering.
Global Market Trends: European shares closed higher, with Germany's trade surplus exceeding expectations, while Asian markets mostly declined. Additionally, U.S. mortgage applications fell by 5.1%, and crude oil inventories rose significantly against market predictions.

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IKT

$1.575+Infinity%1D

Analyst Views on IKT

Wall Street analysts forecast IKT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IKT is 6.25 USD with a low forecast of 4.00 USD and a high forecast of 8.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

4 Analyst Rating

4 Buy

0 Hold

0 Sell

Strong Buy

Current: 1.590

Low

4.00

Averages

6.25

High

8.00

Current: 1.590

Low

4.00

Averages

6.25

High

8.00

BofA

Buy

initiated

$6

2026-01-21

Reason

BofA

Price Target

$6

AI Analysis

2026-01-21

initiated

Buy

Reason

BofA initiated coverage of Inhibikase Therapeutics with a Buy rating and $6 price target. Investors "seemed largely unfazed" by FDA's decision last November to forego a phase 2 in favor of a two-part, adaptive phase 3, reducing development timelines, the analyst noted. Beyond the regulatory support for the company's prodrug of leukemia therapy imatinib for PAH, the firm believes shares are undervalued given a "compelling" mechanistic rationale, good phase 1 data, and prescriber enthusiasm, the analyst tells investors.

H.C. Wainwright

Buy

initiated

$8

2025-12-26

Reason

H.C. Wainwright

Price Target

$8

2025-12-26

initiated

Buy

Reason

H.C. Wainwright assumed coverage of Inhibikase Therapeutics with a Buy rating and $8 price target. The company recently announced plans to advance IKT-001 to a global pivotal Phase 3 clinical study in pulmonary arterial hypertension, the analyst tells investors in a research note. The firm says the drug's commercial prospects appear favorable, despite the presence of entrenched competition.

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About IKT

Inhibikase Therapeutics, Inc. is a clinical-stage pharmaceutical company. The Company is focused on developing Abelson Tyrosine Kinase inhibitor therapeutics for cardiopulmonary disease. The Company’s multi-therapeutic pipeline includes IKT-001, a prodrug of imatinib mesylate, for pulmonary arterial hypertension (PAH).

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.