Inotek Pharmaceuticals Corp. (ITEK) Shares Up 3.6%
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) shares shot up 3.6% on Monday . The company traded as high as $6.99 and last traded at $6.99, with a volume of 89,555 shares. The stock had previously closed at $6.75.
A number of brokerages have weighed in on ITEK. Piper Jaffray Cos. reissued a “buy” rating and set a $24.00 price target on shares of Inotek Pharmaceuticals Corp. in a research note on Tuesday, August 16th. Canaccord Genuity reissued a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research note on Saturday, May 14th.
The stock’s market cap is $187.16 million. The firm has a 50-day moving average of $7.69 and a 200 day moving average of $8.04.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last posted its quarterly earnings data on Wednesday, August 10th. The company reported ($0.33) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.07. On average, equities research analysts predict that Inotek Pharmaceuticals Corp. will post ($1.42) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Inotek Pharmaceuticals Corp. stock. RS Investment Management Co. LLC increased its position in shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) by 22.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 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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