Inotek Pharmaceuticals Corp. (ITEK) Sees Large Volume Increase
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) shares saw unusually-high trading volume on Tuesday . Approximately 327,906 shares traded hands 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.
ITEK has been the subject of a number of analyst reports. Piper Jaffray Cos. reaffirmed 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 company has a 50 day moving average price of $7.91 and a 200-day moving average price of $8.04. The firm’s market capitalization is $185.41 million.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last posted its quarterly earnings results on Wednesday, August 10th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.07. On average, equities research analysts forecast that Inotek Pharmaceuticals Corp. will post ($1.53) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Inotek Pharmaceuticals Corp. stock. Jennison Associates LLC boosted its stake in Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 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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