Inotek Pharmaceuticals Corp. (ITEK) Stock Price Down 6.2%
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) shares traded down 6.2% during mid-day trading on Thursday . The company traded as low as $8.16 and last traded at $8.36, with a volume of 94,607 shares changing hands. The stock had previously closed at $8.91.
A number of research analysts recently issued reports on the company. Canaccord Genuity restated a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research report on Saturday, May 14th. Piper Jaffray Cos. restated a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research report on Thursday, May 12th.
The firm’s market cap is $220.90 million. The firm’s 50 day moving average is $8.27 and its 200 day moving average is $8.34.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last posted its quarterly earnings data on Wednesday, May 11th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.22) by $0.16. On average, analysts expect that Inotek Pharmaceuticals Corp. will post ($1.62) earnings per share for the current fiscal year.
In other Inotek Pharmaceuticals Corp. news, Director J Martin Carroll acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The stock was acquired at an average price of $9.03 per share, with a total value of $90,300.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $90,300. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Several institutional investors have bought and sold shares of ITEK. Jennison Associates boosted its position in Inotek Pharmaceuticals Corp. by 28.8% in the third quarter. Jennison Associates now owns 1,898,824 shares of the company’s stock valued at $17,849,000 after buying an additional 424,369 shares in the last quarter. EAM Investors LLC boosted its position in Inotek Pharmaceuticals Corp. by 29.7% in the fourth quarter. EAM Investors LLC now owns 128,911 shares of the company’s stock valued at $1,461,000 after buying an additional 29,483 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Inotek Pharmaceuticals Corp. by 1.1% in the fourth quarter. Jennison Associates LLC now owns 1,919,852 shares of the company’s stock valued at $21,752,000 after buying an additional 21,028 shares in the last quarter.
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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