Shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) have been given an average broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation.
Brokers have set a 1-year consensus target price of $28.67 for the company and are forecasting that the company will post ($0.44) EPS for the current quarter, according to Zacks. Zacks has also given Inotek Pharmaceuticals Corp. an industry rank of 92 out of 265 based on the ratings given to related companies.
A number of brokerages have weighed in on ITEK. Piper Jaffray Cos. set a $29.00 price target on Inotek Pharmaceuticals Corp. and gave the stock a “buy” rating in a research report on Wednesday, July 20th. HC Wainwright started coverage on Inotek Pharmaceuticals Corp. in a report on Tuesday. They set a “buy” rating and a $22.00 price objective for the company.
Large investors have recently modified their holdings of the company. A.R.T. Advisors LLC purchased a new stake in shares of Inotek Pharmaceuticals Corp. during the first quarter worth about $103,000. Oxford Asset Management purchased a new stake in shares of Inotek Pharmaceuticals Corp. during the second quarter worth about $118,000. Citadel Advisors LLC purchased a new stake in shares of Inotek Pharmaceuticals Corp. during the second quarter worth about $126,000. Rhumbline Advisers purchased a new stake in shares of Inotek Pharmaceuticals Corp. during the second quarter worth about $134,000. Finally, Bridgeway Capital Management Inc. purchased a new stake in shares of Inotek Pharmaceuticals Corp. during the second quarter worth about $154,000. Institutional investors own 73.35% of the company’s stock.
Shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) opened at 8.76 on Wednesday. Inotek Pharmaceuticals Corp. has a 12-month low of $5.81 and a 12-month high of $13.36. The firm’s market capitalization is $235.91 million. The company’s 50-day moving average price is $7.32 and its 200-day moving average price is $8.15.
Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. Analysts anticipate that Inotek Pharmaceuticals Corp. will post ($1.61) EPS for the current year.
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.
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