Inotek Pharmaceuticals Corp. (ITEK) Sees Strong Trading Volume
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) shares saw an uptick in trading volume on Tuesday . 327,906 shares were traded during trading, an increase of 2% from the previous session’s volume of 322,234 shares.The stock last traded at $7.00 and had previously closed at $6.94.
Several research firms recently weighed in on ITEK. Piper Jaffray Cos. reissued a “buy” rating and set a $24.00 price objective on shares of Inotek Pharmaceuticals Corp. in a report on Tuesday. Canaccord Genuity reaffirmed a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a report on Saturday, May 14th.
The company’s market cap is $185.55 million. The company has a 50-day moving average of $7.93 and a 200 day moving average of $8.05.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last issued its earnings results on Wednesday, August 10th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. On average, analysts anticipate that Inotek Pharmaceuticals Corp. will post ($1.53) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Inotek Pharmaceuticals Corp. stock. Jennison Associates LLC raised its position in shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,919,852 shares of the company’s stock after buying an additional 21,028 shares during the period. Jennison Associates LLC owned about 7.27% of Inotek Pharmaceuticals Corp. worth $21,752,000 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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