Stocks: Inotek Pharmaceuticals Corp (ITEK) Posts Earnings Results, Misses Estimates By $0.01 EPS

Stocks: Inotek Pharmaceuticals Corp (ITEK) Posts  Earnings Results, Misses Estimates By $0.01 EPS

Inotek Pharmaceuticals Corp (NASDAQ:ITEK) released its earnings results on Wednesday. The biotechnology company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.39) by $0.01.

Inotek Pharmaceuticals Corp (NASDAQ:ITEK) remained flat at $1.65 during trading on Friday. 53,721 shares of the stock were exchanged. The stock’s market cap is $44.53 million. Inotek Pharmaceuticals Corp has a 52-week low of $1.50 and a 52-week high of $9.90. The company’s 50-day moving average price is $1.93 and its 200-day moving average price is $3.51.

Several equities analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Inotek Pharmaceuticals Corp in a research report on Friday, March 17th. Canaccord Genuity set a $3.00 target price on Inotek Pharmaceuticals Corp and gave the company a “buy” rating in a research report on Thursday, March 16th. Finally, Zacks Investment Research raised Inotek Pharmaceuticals Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 17th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $5.75.

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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