Inotek Pharmaceuticals Corp. (ITEK) Stock Price Down 26.2%
Shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) were down 26.2% during mid-day trading on Monday . The company traded as low as $6.61 and last traded at $7.00, with a volume of 1,172,074 shares. The stock had previously closed at $9.48.
A number of analysts recently issued reports on ITEK shares. Piper Jaffray Cos. reissued a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a report on Thursday, May 12th. Canaccord Genuity reaffirmed a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a report on Saturday, May 14th.
The stock’s 50-day moving average is $8.15 and its 200-day moving average is $8.15. The company’s market cap is $176.77 million.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last issued its quarterly earnings data on Wednesday, May 11th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.22) by $0.16. On average, analysts predict that Inotek Pharmaceuticals Corp. will post ($1.62) EPS for the current year.
In related news, Director J Martin Carroll acquired 10,000 shares of Inotek Pharmaceuticals Corp. stock in a transaction dated Friday, May 13th. The stock was acquired at an average price of $9.03 per share, for a total transaction of $90,300.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $90,300. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
A hedge fund recently raised its stake in Inotek Pharmaceuticals Corp. stock. Jennison Associates boosted its stake in shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) by 28.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,898,824 shares of the company’s stock after buying an additional 424,369 shares during the period. Jennison Associates owned about 7.19% of Inotek Pharmaceuticals Corp. worth $17,849,000 at the end of the most recent quarter.
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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