Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) Given $28.67 Average Target Price by Analysts
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) has received a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 12 month consensus price target of $28.67 for the company and are anticipating that the company will post ($0.36) EPS for the current quarter, according to Zacks. Zacks has also assigned Inotek Pharmaceuticals Corp. an industry rank of 102 out of 265 based on the ratings given to its competitors.
A number of research analysts have recently issued reports on ITEK shares. Piper Jaffray Cos. set a $29.00 price target on shares of Inotek Pharmaceuticals Corp. and gave the stock a “buy” rating in a research report on Wednesday, July 20th. 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 target on the stock.
Hedge funds have recently added to or reduced their stakes in the company. Oxford Asset Management purchased a new stake in Inotek Pharmaceuticals Corp. during the second quarter worth $118,000. Opaleye Management Inc. purchased a new stake in Inotek Pharmaceuticals Corp. during the first quarter worth $4,773,000. A.R.T. Advisors LLC purchased a new stake in Inotek Pharmaceuticals Corp. during the first quarter worth $103,000. GW&K Investment Management LLC boosted its stake in Inotek Pharmaceuticals Corp. by 90.5% in the first quarter. GW&K Investment Management LLC now owns 320,759 shares of the company’s stock worth $2,374,000 after buying an additional 152,354 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in Inotek Pharmaceuticals Corp. by 31.1% in the second quarter. Janney Montgomery Scott LLC now owns 31,015 shares of the company’s stock worth $351,000 after buying an additional 7,350 shares during the period. 73.35% of the stock is currently owned by institutional investors and hedge funds.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) traded down 2.49% on Wednesday, reaching $8.63. 131,383 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $7.14 and its 200 day moving average price is $8.12. Inotek Pharmaceuticals Corp. has a 1-year low of $5.81 and a 1-year high of $13.50. The firm’s market capitalization is $232.41 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 Zacks’ consensus estimate of ($0.40) by $0.07. On average, analysts expect that Inotek Pharmaceuticals Corp. will post ($1.42) earnings per share for the current year.
About Inotek Pharmaceuticals Corp.
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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