Inotek Pharmaceuticals Corp. (ITEK) Trading Down 4.5%
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) shares traded down 4.5% during trading on Wednesday . The company traded as low as $8.07 and last traded at $8.13, with a volume of 90,712 shares trading hands. The stock had previously closed at $8.51.
A number of research analysts have recently commented on the company. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research report on Thursday, May 12th. Canaccord Genuity reaffirmed a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research report on Saturday, May 14th.
The stock has a 50 day moving average price of $8.20 and a 200 day moving average price of $8.26. The company’s market cap is $208.48 million.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last announced its quarterly earnings data on Wednesday, May 11th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by $0.16. Equities analysts expect that Inotek Pharmaceuticals Corp. will post ($1.62) earnings per share for the current fiscal year.
In other 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 bought at an average price of $9.03 per share, with a total value of $90,300.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $90,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Other hedge funds have recently modified their holdings of the company. EAM Investors LLC raised its stake in shares of 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 during the last quarter. Jennison Associates raised its stake in shares of 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 during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of 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 during 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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