Inotek Pharmaceuticals Corp (ITEK) Stock Rating Reaffirmed by HC Wainwright

Inotek Pharmaceuticals Corp (NASDAQ:ITEK)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Friday. They currently have a $7.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 300.00% from the company’s current price.

ITEK has been the topic of a number of other research reports. Canaccord Genuity set a $9.00 target price on shares of Inotek Pharmaceuticals Corp and gave the stock a “buy” rating in a research note on Tuesday, January 3rd. Roth Capital began coverage on shares of Inotek Pharmaceuticals Corp in a research note on Thursday, December 1st. They set a “buy” rating and a $10.00 target price on the stock. Zacks Investment Research cut shares of Inotek Pharmaceuticals Corp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th. Finally, Piper Jaffray Companies cut shares of Inotek Pharmaceuticals Corp from an “overweight” rating to a “neutral” rating and set a $3.00 target price on the stock. in a research note on Tuesday, January 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $5.75.

Inotek Pharmaceuticals Corp (NASDAQ:ITEK) opened at 1.75 on Friday. Inotek Pharmaceuticals Corp has a 1-year low of $1.50 and a 1-year high of $10.90. The stock’s market cap is $47.13 million. The firm has a 50-day moving average of $1.63 and a 200-day moving average of $5.23.

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In related news, insider David P. Southwell acquired 60,000 shares of the business’s stock in a transaction on Friday, January 6th. The stock was acquired at an average cost of $1.75 per share, with a total value of $105,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 11.70% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Putnam Investments LLC raised its stake in shares of Inotek Pharmaceuticals Corp by 1.3% in the fourth quarter. Putnam Investments LLC now owns 34,520 shares of the company’s stock worth $211,000 after buying an additional 447 shares during the period. Senzar Asset Management LLC bought a new stake in shares of Inotek Pharmaceuticals Corp during the fourth quarter worth about $2,516,000. New Leaf Venture Partners L.L.C. bought a new stake in shares of Inotek Pharmaceuticals Corp during the fourth quarter worth about $380,000. Trexquant Investment LP bought a new stake in shares of Inotek Pharmaceuticals Corp during the fourth quarter worth about $145,000. Finally, FT Options LLC raised its stake in shares of Inotek Pharmaceuticals Corp by 15.5% in the fourth quarter. FT Options LLC now owns 181,172 shares of the company’s stock worth $1,105,000 after buying an additional 24,308 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Inotek Pharmaceuticals Corp 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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