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.
TRADEMARK VIOLATION NOTICE: “Inotek Pharmaceuticals Corp (ITEK) Receives Buy Rating from HC Wainwright” was published by sleekmoney and is owned by of sleekmoney. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://sleekmoney.com/inotek-pharmaceuticals-corp-itek-receives-buy-rating-from-hc-wainwright/1832053.html.
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.
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/inotek-pharmaceuticals-corp-itek-receives-buy-rating-from-hc-wainwright/1832053.html
Receive News & Ratings for Inotek Pharmaceuticals Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inotek Pharmaceuticals Corp and related companies with MarketBeat.com's FREE daily email newsletter.