Inotek Pharmaceuticals Corp. (ITEK) Trading Up 4.4%
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK)’s share price was up 4.4% during trading on Tuesday . The company traded as high as $9.00 and last traded at $8.84, with a volume of 256,146 shares changing hands. The stock had previously closed at $8.47.
A number of equities analysts recently weighed in on ITEK shares. HC Wainwright started coverage on shares of Inotek Pharmaceuticals Corp. in a research report on Tuesday. They issued a “buy” rating and a $22.00 price objective on the stock. Piper Jaffray Cos. set a $29.00 target price on shares of Inotek Pharmaceuticals Corp. and gave the stock a “buy” rating in a research report on Wednesday, July 20th.
The stock has a 50-day moving average of $7.08 and a 200-day moving average of $8.11. The stock’s market capitalization is $240.19 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, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.07. On average, analysts forecast that Inotek Pharmaceuticals Corp. will post ($1.42) earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. purchased a new stake in Inotek Pharmaceuticals Corp. during the second quarter valued at about $207,000. Adage Capital Partners GP L.L.C. raised its stake in Inotek Pharmaceuticals Corp. by 70.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 470,000 shares of the company’s stock valued at $3,497,000 after buying an additional 195,000 shares in the last quarter. Polar Capital LLP purchased a new stake in Inotek Pharmaceuticals Corp. during the second quarter valued at about $504,000. Bridgeway Capital Management Inc. purchased a new stake in Inotek Pharmaceuticals Corp. during the second quarter valued at about $154,000. Finally, Citadel Advisors LLC purchased a new stake in Inotek Pharmaceuticals Corp. during the second quarter valued at about $126,000. 73.35% of the stock is currently owned by institutional investors and hedge funds.
Inotek Pharmaceuticals Corp. Company Profile
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.
Receive News & Ratings for Inotek Pharmaceuticals Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inotek Pharmaceuticals Corp. and related companies with MarketBeat.com's FREE daily email newsletter.