Inotek Pharmaceuticals (NASDAQ:ITEK) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

Separately, Zacks Investment Research downgraded shares of Inotek Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th.

Shares of Inotek Pharmaceuticals (NASDAQ:ITEK) traded down $0.16 during trading hours on Friday, hitting $3.04. 394,100 shares of the company’s stock were exchanged, compared to its average volume of 753,067. Inotek Pharmaceuticals has a 1 year low of $0.85 and a 1 year high of $3.80. The firm has a market cap of $340.28 and a price-to-earnings ratio of -2.19. The company has a debt-to-equity ratio of 0.97, a quick ratio of 27.63 and a current ratio of 27.63.

A number of hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP increased its stake in shares of Inotek Pharmaceuticals by 4.3% in the second quarter. GSA Capital Partners LLP now owns 156,300 shares of the biotechnology company’s stock worth $297,000 after purchasing an additional 6,500 shares in the last quarter. Boothbay Fund Management LLC increased its stake in shares of Inotek Pharmaceuticals by 94.0% in the third quarter. Boothbay Fund Management LLC now owns 139,731 shares of the biotechnology company’s stock worth $249,000 after purchasing an additional 67,687 shares in the last quarter. Sabby Management LLC increased its stake in shares of Inotek Pharmaceuticals by 110.7% in the second quarter. Sabby Management LLC now owns 212,651 shares of the biotechnology company’s stock worth $404,000 after purchasing an additional 111,721 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Inotek Pharmaceuticals by 195.6% in the second quarter. Goldman Sachs Group Inc. now owns 173,690 shares of the biotechnology company’s stock worth $330,000 after purchasing an additional 114,932 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Inotek Pharmaceuticals in the third quarter worth about $1,131,000. 37.00% of the stock is currently owned by institutional investors and hedge funds.

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Inotek Pharmaceuticals 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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