Inotek Pharmaceuticals Corp. (NASDAQ:ITEK)’s share price shot up 3.6% during mid-day trading on Monday . The stock traded as high as $6.99 and last traded at $6.99, with a volume of 89,555 shares traded. The stock had previously closed at $6.75.

Several research firms have recently weighed in on ITEK. Canaccord Genuity reissued a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research report on Saturday, May 14th. Piper Jaffray Cos. set a $29.00 target price on shares of Inotek Pharmaceuticals Corp. and gave the stock a “buy” rating in a research report on Wednesday, July 20th.

The stock’s market cap is $190.93 million. The firm has a 50-day moving average of $7.61 and a 200-day moving average of $8.07.

Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last posted its earnings results on Wednesday, August 10th. The company reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.07. On average, analysts predict that Inotek Pharmaceuticals Corp. will post ($1.42) EPS for the current year.

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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