Inotek Pharmaceuticals Corporation (ITEK) Given $20.00 Average Target Price by Brokerages
Shares of Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) have been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation. Inotek Pharmaceuticals’ rating score has declined by 28.8% from 90 days ago as a result of various analysts’ ratings changes.
Brokerages have set a twelve-month consensus price target of $20.00 for the company, according to Zacks. Zacks has also assigned Inotek Pharmaceuticals an industry rank of 98 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research cut Inotek Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th.
Institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new position in shares of Inotek Pharmaceuticals during the 3rd quarter valued at approximately $2,771,000. Goldman Sachs Group Inc. boosted its stake in shares of Inotek Pharmaceuticals by 195.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 173,690 shares of the biotechnology company’s stock valued at $330,000 after buying an additional 114,932 shares during the last quarter. Sabby Management LLC boosted its stake in shares of Inotek Pharmaceuticals by 110.7% during the 2nd quarter. Sabby Management LLC now owns 212,651 shares of the biotechnology company’s stock valued at $404,000 after buying an additional 111,721 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Inotek Pharmaceuticals by 4.3% during the 2nd quarter. GSA Capital Partners LLP now owns 156,300 shares of the biotechnology company’s stock valued at $297,000 after buying an additional 6,500 shares during the last quarter. Finally, Pura Vida Investments LLC purchased a new position in shares of Inotek Pharmaceuticals during the 3rd quarter valued at approximately $2,039,000. Institutional investors own 36.29% of the company’s stock.
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Inotek Pharmaceuticals 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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