Inotek Pharmaceuticals Corp. (ITEK) Trading Up 2.2%
Shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) were up 2.2% during trading on Friday . The company traded as high as $8.32 and last traded at $8.19, with a volume of 57,230 shares. The stock had previously closed at $8.01.
A number of analysts recently commented on ITEK shares. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research note on Thursday, May 12th. Canaccord Genuity reaffirmed a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research note on Saturday, May 14th.
The stock’s market capitalization is $218.25 million. The company’s 50-day moving average is $8.11 and its 200 day moving average is $8.24.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last issued its quarterly earnings data on Wednesday, May 11th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.16. On average, equities research analysts forecast that Inotek Pharmaceuticals Corp. will post ($1.62) EPS for the current fiscal year.
In other news, Director J Martin Carroll acquired 10,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were acquired at an average cost of $9.03 per share, with a total value of $90,300.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $90,300. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several hedge funds have recently modified their holdings of the company. Jennison Associates LLC boosted its stake in shares of Inotek Pharmaceuticals Corp. by 1.1% in the fourth quarter. Jennison Associates LLC now owns 1,919,852 shares of the company’s stock valued at $21,752,000 after buying an additional 21,028 shares during the period. EAM Investors LLC boosted its stake in shares of Inotek Pharmaceuticals Corp. by 29.7% in the fourth quarter. EAM Investors LLC now owns 128,911 shares of the company’s stock valued at $1,461,000 after buying an additional 29,483 shares during the period. Finally, Jennison Associates boosted its stake in shares of Inotek Pharmaceuticals Corp. by 28.8% in the third quarter. Jennison Associates now owns 1,898,824 shares of the company’s stock valued at $17,849,000 after buying an additional 424,369 shares during the period.
Inotek Pharmaceuticals Corporation is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapies for glaucoma and other diseases of the eye. Its lead product candidate, trabodenoson, is a selective adenosine mimetic that the Company has designed to lower intraocular pressure (IOP) by restoring the eye’s natural pressure control mechanism.
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