Shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) traded down 1.5% during mid-day trading on Friday . The company traded as low as $7.03 and last traded at $7.06, with a volume of 77,045 shares. The stock had previously closed at $7.17.

A number of analysts have issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating on shares of Inotek Pharmaceuticals Corp. in a research note on Saturday, May 14th. Piper Jaffray Cos. set a $29.00 target price on Inotek Pharmaceuticals Corp. and gave the stock a “buy” rating in a research note on Wednesday, July 20th.

The stock has a 50 day moving average price of $7.52 and a 200 day moving average price of $8.05. The company’s market capitalization is $192.01 million.

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