Inotek Pharmaceuticals Corp. (ITEK) Trading 1.9% Higher
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) shares traded up 1.9% during mid-day trading on Monday . The company traded as high as $7.00 and last traded at $6.97, with a volume of 58,109 shares traded. The stock had previously closed at $6.84.
A number of analysts have weighed in on ITEK shares. Canaccord Genuity reaffirmed a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research report on Saturday, May 14th. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $24.00 price objective on shares of Inotek Pharmaceuticals Corp. in a research report on Tuesday, August 16th.
The company’s market capitalization is $191.20 million. The firm has a 50 day moving average price of $7.84 and a 200-day moving average price of $8.06.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last issued its quarterly earnings data on Wednesday, August 10th. The company reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.07. Equities analysts predict that Inotek Pharmaceuticals Corp. will post ($1.42) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Inotek Pharmaceuticals Corp. stock. Jennison Associates LLC raised its stake in Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,919,852 shares of the company’s stock after buying an additional 21,028 shares during the period. Jennison Associates LLC owned about 7.27% of Inotek Pharmaceuticals Corp. worth $21,752,000 as of its most recent SEC filing.
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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