Core Viewpoint - Inhibikase Therapeutics, Inc. (IKT) has experienced a downtrend, losing 15.4% over the past two weeks, but a hammer chart pattern suggests a potential trend reversal due to increased buying interest [1][2]. Technical Analysis - The hammer chart pattern indicates a possible bottom in the stock price, suggesting that selling pressure may be exhausting and that bulls are gaining control [2][4]. - A hammer pattern forms when there is a small candle body with a long lower wick, indicating that the stock opened lower, made a new low, but closed near its opening price, reflecting buying interest [3][4]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for IKT, with a 4% increase in the consensus EPS estimate over the last 30 days, indicating that analysts expect better earnings than previously predicted [6][7]. - IKT holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [8].
Inhibikase Therapeutics (IKT) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now