Inhibikase shares surge 22.27% after-hours as H.C. Wainwright initiates Buy rating with $8 target, citing IKT-001's Phase 3 PAH trial.

Inhibikase Therapeutics (NASDAQ:IKT) surged 22.27% in after-hours trading following H.C. Wainwright’s initiation of coverage with a “Buy” rating and a $8.00 price target, implying a 385% upside from its $1.65 price. The firm highlighted the company’s advancement of IKT-001, a novel imatinib prodrug, into a global Phase 3 trial for pulmonary arterial hypertension (PAH) by Q1 2026, emphasizing its potential best-in-class efficacy in improving pulmonary vascular resistance and tolerability. Wainwright also noted Inhibikase’s enhanced manufacturing capabilities and financial stability, with cash exceeding debt. Additional momentum came from a $100 million public offering to fund development and Cantor Fitzgerald’s prior “Overweight” rating at $4.00. The analyst consensus, including a $5.60 average target, further reinforced optimism about the stock’s prospects.