In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Inhibikase Therapeutics, with a price target of $8.00.
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Jason McCarthy has given his Buy rating due to a combination of factors including Inhibikase Therapeutics’ strategic focus on advancing its Phase 2b study of IKT-001 for pulmonary arterial hypertension (PAH). The company is actively preparing for site activation and enrollment, with an interim safety update anticipated once a significant number of patients have been enrolled. This progress indicates a strong commitment to advancing their clinical pipeline, which is a positive sign for potential investors.
Additionally, the innovative design of IKT-001Pro, a prodrug of imatinib mesylate, aims to improve safety and tolerability by enhancing gastrointestinal absorption. This novel approach, coupled with the drug’s recognition as a New Molecular Entity in PAH, positions Inhibikase favorably in the market. The company’s financial runway, supported by a substantial cash reserve, further strengthens its capacity to reach key developmental milestones, thereby justifying the Buy rating.