Inotek Pharmaceuticals Corp (ITEK) Getting Positive News Coverage, Report Shows
Headlines about Inotek Pharmaceuticals Corp (NASDAQ:ITEK) have trended positive this week, according to AlphaOne Sentiment. The research group, a unit of Accern, rates the sentiment of media coverage by analyzing more than twenty million news and blog sources. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Inotek Pharmaceuticals Corp earned a news impact score of 0.35 on AlphaOne’s scale. AlphaOne also gave media stories about the biotechnology company an impact score of 0 out of 100, meaning that recent media coverage is extremely unlikely to have an impact on the stock’s share price in the immediate future.
ITEK has been the topic of several research reports. Zacks Investment Research raised Inotek Pharmaceuticals Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 17th. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Inotek Pharmaceuticals Corp in a research report on Wednesday, January 4th. 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, Piper Jaffray Companies downgraded Inotek Pharmaceuticals Corp from an “overweight” rating to a “neutral” rating and set a $3.00 target price on the stock. in a research report on Tuesday, January 3rd. Two investment 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 an average rating of “Buy” and an average price target of $5.75.
Inotek Pharmaceuticals Corp (NASDAQ:ITEK) traded down 3.659% during trading on Thursday, hitting $1.975. The company had a trading volume of 848,572 shares. The stock’s market capitalization is $53.30 million. Inotek Pharmaceuticals Corp has a 52-week low of $1.50 and a 52-week high of $10.90. The firm’s 50 day moving average is $1.84 and its 200-day moving average is $4.20.
Inotek Pharmaceuticals Corp (NASDAQ:ITEK) last issued its quarterly earnings results on Thursday, March 16th. The biotechnology company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.05. On average, equities analysts forecast that Inotek Pharmaceuticals Corp will post ($1.72) earnings per share for the current year.
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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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