Stock analysts at HC Wainwright began coverage on shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) in a report released on Tuesday. The brokerage set a “buy” rating and a $22.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 159.74% from the company’s current price.

Separately, Piper Jaffray Cos. reiterated a “buy” rating and issued a $24.00 price objective on shares of Inotek Pharmaceuticals Corp. in a research report on Tuesday, August 16th.

Shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) opened at 8.47 on Tuesday. The stock has a 50 day moving average of $7.08 and a 200-day moving average of $8.10. The stock’s market capitalization is $228.10 million. Inotek Pharmaceuticals Corp. has a 52-week low of $5.81 and a 52-week high of $14.07.

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Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last released its quarterly 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, equities research analysts predict that Inotek Pharmaceuticals Corp. will post ($1.42) EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in ITEK. A.R.T. Advisors LLC purchased a new stake in shares of Inotek Pharmaceuticals Corp. during the first quarter worth approximately $103,000. Oxford Asset Management bought a new position in Inotek Pharmaceuticals Corp. during the second quarter valued at about $118,000. Citadel Advisors LLC bought a new position in Inotek Pharmaceuticals Corp. during the second quarter valued at about $126,000. Rhumbline Advisers bought a new position in Inotek Pharmaceuticals Corp. during the second quarter valued at about $134,000. Finally, Bridgeway Capital Management Inc. bought a new position in Inotek Pharmaceuticals Corp. during the second quarter valued at about $154,000. Hedge funds and other institutional investors 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.

5 Day Chart for NASDAQ:ITEK

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