Inhibikase Therapeutics (IKT) has received a new Buy rating, initiated by LifeSci Capital analyst, Cory Jubinville, PhD.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Cory Jubinville, PhD’s rating is based on several compelling factors that highlight the potential of Inhibikase Therapeutics. The company is advancing a more tolerable prodrug version of imatinib, known as IKT-001, which is entering Phase 3 development. This drug has the potential to significantly change the treatment landscape for pulmonary arterial hypertension (PAH) by addressing the root cause of the disease and offering a multi-billion-dollar market opportunity.
Imatinib has shown strong efficacy in previous studies, particularly in improving the six-minute walk distance in patients with PAH. However, its past development was hindered by safety concerns and poor tolerability. Inhibikase’s new formulation aims to overcome these issues, potentially unlocking the full therapeutic benefits of imatinib without the gastrointestinal toxicity that previously limited its use. This innovative approach and the promising market potential underpin Jubinville’s Buy rating for Inhibikase Therapeutics.
In another report released on November 17, Maxim Group also maintained a Buy rating on the stock with a $8.00 price target.