Inotek Pharmaceuticals Corp. (ITEK) Now Covered by HC Wainwright
Investment analysts at HC Wainwright began coverage on shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) in a report issued on Tuesday. The brokerage set a “buy” rating and a $22.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 148.59% from the stock’s current price.
Separately, Piper Jaffray Cos. reissued a “buy” rating and set a $24.00 target price on shares of Inotek Pharmaceuticals Corp. in a research note on Tuesday, August 16th.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) traded up 4.49% during trading on Tuesday, hitting $8.85. 400,674 shares of the company traded hands. Inotek Pharmaceuticals Corp. has a one year low of $5.81 and a one year high of $14.07. The firm’s market cap is $238.33 million. The firm has a 50 day moving average of $7.08 and a 200 day moving average of $8.10.
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Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last released its earnings results on Wednesday, August 10th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.07. On average, analysts expect that Inotek Pharmaceuticals Corp. will post ($1.42) earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of ITEK. BlackRock Inc. increased its stake in shares of Inotek Pharmaceuticals Corp. by 0.8% in the second quarter. BlackRock Inc. now owns 81,496 shares of the company’s stock valued at $606,000 after buying an additional 685 shares during the period. ProShare Advisors LLC increased its stake in shares of Inotek Pharmaceuticals Corp. by 12.4% in the second quarter. ProShare Advisors LLC now owns 21,807 shares of the company’s stock valued at $162,000 after buying an additional 2,402 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Inotek Pharmaceuticals Corp. by 31.1% in the second quarter. Janney Montgomery Scott LLC now owns 31,015 shares of the company’s stock valued at $351,000 after buying an additional 7,350 shares during the period. Alps Advisors Inc. increased its stake in shares of Inotek Pharmaceuticals Corp. by 25.0% in the second quarter. Alps Advisors Inc. now owns 37,119 shares of the company’s stock valued at $276,000 after buying an additional 7,418 shares during the period. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Inotek Pharmaceuticals Corp. during the first quarter valued at approximately $103,000. Institutional investors and hedge funds own 73.35% of the company’s stock.
Inotek Pharmaceuticals Corp. Company Profile
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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