Ikena Oncology’s (IKNA) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Ikena Oncology (NASDAQ:IKNA) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $4.00 target price on the stock. HC Wainwright also issued estimates for Ikena Oncology’s Q4 2024 earnings at ($0.20) EPS, FY2024 earnings at ($0.95) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.20) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.81) EPS, FY2026 earnings at ($0.95) EPS, FY2027 earnings at ($0.93) EPS and FY2028 earnings at ($0.70) EPS.

Separately, Wedbush reaffirmed a “neutral” rating and issued a $2.00 target price on shares of Ikena Oncology in a research note on Thursday, November 7th.

Ikena Oncology Price Performance

NASDAQ:IKNA opened at $1.71 on Monday. The business’s 50-day simple moving average is $1.71 and its 200-day simple moving average is $1.65. Ikena Oncology has a fifty-two week low of $1.22 and a fifty-two week high of $2.32. The stock has a market capitalization of $82.52 million, a PE ratio of -1.41 and a beta of 0.48.

Ikena Oncology (NASDAQ:IKNA) last announced its earnings results on Thursday, November 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. On average, research analysts expect that Ikena Oncology will post -0.95 earnings per share for the current year.

Hedge Funds Weigh In On Ikena Oncology

Large investors have recently bought and sold shares of the company. Blue Owl Capital Holdings LP lifted its position in shares of Ikena Oncology by 5.1% in the second quarter. Blue Owl Capital Holdings LP now owns 4,091,118 shares of the company’s stock worth $6,750,000 after purchasing an additional 200,000 shares in the last quarter. BML Capital Management LLC lifted its position in Ikena Oncology by 23.6% during the 3rd quarter. BML Capital Management LLC now owns 723,288 shares of the company’s stock worth $1,251,000 after buying an additional 138,174 shares in the last quarter. NEA Management Company LLC boosted its stake in shares of Ikena Oncology by 5.3% during the 3rd quarter. NEA Management Company LLC now owns 600,063 shares of the company’s stock worth $1,038,000 after buying an additional 30,013 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Ikena Oncology by 813.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 513,440 shares of the company’s stock valued at $729,000 after acquiring an additional 457,245 shares in the last quarter. Finally, Sofinnova Investments Inc. increased its position in shares of Ikena Oncology by 230.7% in the second quarter. Sofinnova Investments Inc. now owns 382,616 shares of the company’s stock valued at $631,000 after acquiring an additional 266,904 shares during the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.

Ikena Oncology Company Profile

Ikena Oncology, Inc operates as an oncology company that develops differentiated therapies for patients in need that target nodes of cancer growth, spread, and therapeutic resistance in the United States. Its lead program is IK-930, an internally discovered, oral, TEAD1-selective, small molecule inhibitor of the Hippo pathway.