Inotek Pharmaceuticals Corp. (ITEK) Trading Up 1.9%
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK)’s share price was up 1.9% on Monday . The stock traded as high as $7.00 and last traded at $6.97, with a volume of 58,109 shares. The stock had previously closed at $6.84.
Several equities analysts have recently weighed in on ITEK shares. Piper Jaffray Cos. set a $29.00 price objective on shares of Inotek Pharmaceuticals Corp. and gave the stock a “buy” rating in a research note on Wednesday, July 20th. Canaccord Genuity reiterated a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research note on Saturday, May 14th.
The company has a 50 day moving average price of $7.88 and a 200-day moving average price of $8.03. The stock’s market cap is $188.51 million.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last posted its earnings results on Wednesday, August 10th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.07. On average, equities analysts forecast that Inotek Pharmaceuticals Corp. will post ($1.42) earnings per share for the current year.
An institutional investor recently raised its position in Inotek Pharmaceuticals Corp. stock. Jennison Associates LLC increased its stake in shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.
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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