Inotek Pharmaceuticals Corp. (NASDAQ:ITEK)’s share price fell 1.7% during trading on Wednesday . The stock traded as low as $8.61 and last traded at $8.70, with a volume of 141,180 shares traded. The stock had previously closed at $8.85.

Several research firms recently commented on ITEK. HC Wainwright began coverage on Inotek Pharmaceuticals Corp. in a research report on Tuesday. They set a “buy” rating and a $22.00 target price for the company. 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.

The firm’s market capitalization is $238.60 million. The stock’s 50-day moving average is $7.21 and its 200 day moving average is $8.13.

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Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last posted 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. Analysts expect that Inotek Pharmaceuticals Corp. will post ($1.42) earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. A.R.T. Advisors LLC purchased a new position in Inotek Pharmaceuticals Corp. during the first quarter valued at approximately $103,000. Oxford Asset Management purchased a new position in Inotek Pharmaceuticals Corp. during the second quarter valued at approximately $118,000. Citadel Advisors LLC purchased a new position in Inotek Pharmaceuticals Corp. during the second quarter valued at approximately $126,000. Rhumbline Advisers purchased a new position in Inotek Pharmaceuticals Corp. during the second quarter valued at approximately $134,000. Finally, Bridgeway Capital Management Inc. purchased a new position in Inotek Pharmaceuticals Corp. during the second quarter valued at approximately $154,000. 73.35% of the stock is currently owned by institutional investors.

About Inotek Pharmaceuticals Corp.

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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