Inotek Pharmaceuticals Corp (ITEK) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Inotek Pharmaceuticals Corp (NASDAQ:ITEK) in a research note issued to investors on Friday morning. They currently have a $7.00 target price on the biotechnology company’s stock.

A number of other analysts have also weighed in on the stock. Canaccord Genuity set a $3.00 target price on shares of Inotek Pharmaceuticals Corp and gave the stock a buy rating in a report on Thursday, March 16th. Zacks Investment Research upgraded shares of Inotek Pharmaceuticals Corp from a sell rating to a hold rating in a report on Tuesday, January 17th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $5.75.

Inotek Pharmaceuticals Corp (NASDAQ:ITEK) opened at 1.75 on Friday. The firm’s 50-day moving average price is $1.92 and its 200 day moving average price is $3.30. Inotek Pharmaceuticals Corp has a one year low of $1.50 and a one year high of $9.90. The firm’s market capitalization is $47.23 million.

Inotek Pharmaceuticals Corp (NASDAQ:ITEK) last announced its quarterly earnings data on Wednesday, May 10th. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.01. On average, equities analysts anticipate that Inotek Pharmaceuticals Corp will post ($1.70) earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its stake in Inotek Pharmaceuticals Corp by 13.1% in the first quarter. Morgan Stanley now owns 67,432 shares of the biotechnology company’s stock worth $135,000 after buying an additional 7,813 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Inotek Pharmaceuticals Corp by 70.6% in the first quarter. Vanguard Group Inc. now owns 701,655 shares of the biotechnology company’s stock valued at $1,403,000 after buying an additional 290,433 shares during the period. Minerva Advisors LLC bought a new stake in shares of Inotek Pharmaceuticals Corp during the first quarter valued at approximately $126,000. Columbus Circle Investors raised its stake in shares of Inotek Pharmaceuticals Corp by 78.4% in the first quarter. Columbus Circle Investors now owns 385,229 shares of the biotechnology company’s stock valued at $770,000 after buying an additional 169,262 shares during the period. Finally, Highbridge Capital Management LLC raised its stake in shares of Inotek Pharmaceuticals Corp by 183.2% in the fourth quarter. Highbridge Capital Management LLC now owns 90,947 shares of the biotechnology company’s stock valued at $554,000 after buying an additional 58,828 shares during the period. Institutional investors own 81.49% of the company’s stock.

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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