Inotek Pharmaceuticals Corp. (ITEK) Shares Down 2.2%
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK)’s share price was down 2.2% on Thursday . The company traded as low as $6.67 and last traded at $6.68, with a volume of 141,273 shares. The stock had previously closed at $6.83.
A number of equities analysts have recently weighed in on ITEK shares. Piper Jaffray Cos. reiterated a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research note on Thursday, May 12th. Canaccord Genuity reiterated a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research note on Saturday, May 14th.
The firm has a 50-day moving average price of $7.80 and a 200 day moving average price of $8.05. The stock’s market cap is $182.59 million.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last announced its earnings results on Wednesday, August 10th. The company reported ($0.33) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.07. Equities research analysts expect that Inotek Pharmaceuticals Corp. will post ($1.42) EPS for the current year.
An institutional investor recently raised its position in Inotek Pharmaceuticals Corp. stock. RS Investment Management Co. LLC raised its position in shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) by 22.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,585,006 shares of the company’s stock after buying an additional 292,116 shares during the period. RS Investment Management Co. LLC owned 6.00% of Inotek Pharmaceuticals Corp. worth $17,958,000 at the end of the most recent reporting 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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