Inotek Pharmaceuticals Corp. (ITEK) Trading 3.1% Higher
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) shares traded up 3.1% during trading on Thursday . The company traded as high as $8.90 and last traded at $8.88, with a volume of 90,238 shares traded. The stock had previously closed at $8.61.
A number of research analysts recently commented on the company. Piper Jaffray Cos. set a $29.00 price target on Inotek Pharmaceuticals Corp. and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity restated a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research report on Saturday, May 14th.
The stock’s 50-day moving average price is $8.07 and its 200-day moving average price is $8.16. The firm’s market cap is $237.81 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 analysts’ consensus estimates of ($0.22) by $0.16. On average, equities analysts forecast that Inotek Pharmaceuticals Corp. will post ($1.62) EPS for the current year.
In other Inotek Pharmaceuticals Corp. news, Director J Martin Carroll acquired 10,000 shares of Inotek Pharmaceuticals Corp. stock in a transaction on Friday, May 13th. The stock was purchased at an average price of $9.03 per share, for a total transaction of $90,300.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $90,300. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
A hedge fund recently raised its stake in Inotek Pharmaceuticals Corp. stock. Jennison Associates raised its position in shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) by 28.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,898,824 shares of the company’s stock after buying an additional 424,369 shares during the period. Jennison Associates owned approximately 7.19% of Inotek Pharmaceuticals Corp. worth $17,849,000 as of its most recent filing with the SEC.
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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