Malek Green added 13 points and 11 rebounds for the Eagles (4-8).
IUPUI tied the game for the final time on an Evan Hall dunk with two minutes left but then went 1 of 8, including six misses from the arc. Walker drove through the middle for a bucket for the lead, A.J. Hicks made a steal that Green turned into a basket on a baseline drive as the shot clock was winding down and Walker added two free throws with seven seconds left.
IUPUI trailed by 15 before closing the final 7 1/2 minutes of the first half by outscoring Morehead State 21-5, finishing with a dunk by Elyjah Goss at the buzzer to lead 37-36.
Camron Justice scored 20 points, his ninth game this season of at least 20 for IUPUI (8-5).
Memphis will hold pro day for NBA teams featuring potential lottery picks
The pro day, featuring James Wiseman and Precious Achiuwa, will have a similar format to the draft combine.
Judge denies MSU request to dismiss Title IX suit
A federal judge on Wednesday denied Michigan State's request to dismiss a Title IX lawsuit filed by a former female student, thus allowing the suit to proceed.
Osabuohien, dismissed by Hogs, surfaces at WVU
Forward Gabe Osabuohien, who was dismissed from Arkansas for undisclosed reasons last week, has transferred to play for coach Bob Huggins at West Virginia.