Inotek Pharmaceuticals Corp. (ITEK) Shares Bought by BlackRock Advisors LLC
BlackRock Advisors LLC increased its position in Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 765,453 shares of the company’s stock after buying an additional 14,869 shares during the period. BlackRock Advisors LLC owned approximately 2.90% of Inotek Pharmaceuticals Corp. worth $5,695,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in ITEK. Vanguard Group Inc. boosted its stake in Inotek Pharmaceuticals Corp. by 12.8% in the second quarter. Vanguard Group Inc. now owns 595,073 shares of the company’s stock worth $4,427,000 after buying an additional 67,557 shares during the last quarter. Oxford Asset Management acquired a new position in shares of Inotek Pharmaceuticals Corp. during the second quarter worth approximately $118,000. Janney Montgomery Scott LLC boosted its position in shares of 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 last quarter. California State Teachers Retirement System acquired a new position in shares of Inotek Pharmaceuticals Corp. during the second quarter worth approximately $272,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Inotek Pharmaceuticals Corp. by 114.8% in the second quarter. Bank of New York Mellon Corp now owns 70,832 shares of the company’s stock worth $526,000 after buying an additional 37,863 shares during the last quarter. 73.35% of the stock is currently owned by institutional investors.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) opened at 7.73 on Friday. The firm’s market capitalization is $208.17 million. The stock has a 50 day moving average of $8.16 and a 200-day moving average of $8.33. Inotek Pharmaceuticals Corp. has a one year low of $5.81 and a one year high of $13.36.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last issued its quarterly earnings data 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, equities analysts predict that Inotek Pharmaceuticals Corp. will post ($1.84) EPS for the current year.
A number of equities analysts have recently commented on ITEK shares. Piper Jaffray Cos. set a $29.00 target price on shares of Inotek Pharmaceuticals Corp. and gave the company a “buy” rating in a report on Wednesday, July 20th. HC Wainwright started coverage on shares of Inotek Pharmaceuticals Corp. in a report on Tuesday, September 20th. They issued a “buy” rating and a $22.00 target price on the stock.
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.
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