Inotek Pharmaceuticals Corporation (ITEK) : Analyst Rating Update

Inotek Pharmaceuticals Corporation (ITEK) : The consensus on Inotek Pharmaceuticals Corporation (ITEK) based on 2 analyst recommendation on the company stock is 1, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels.

Inotek Pharmaceuticals Corporation (ITEK) : Average target price received by Inotek Pharmaceuticals Corporation (ITEK) is $34.5 with an expected standard deviation of $7.78. The most aggressive target on the stock is $40, whereas the most downbeat target is $29. 2 financial analysts are currently covering the stock.

Inotek Pharmaceuticals Corporation (NASDAQ:ITEK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.30 and $8.28 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.91, notching a gain of 7.87% for the day. The total traded volume was 172,992 . The stock had closed at $8.26 on the previous day.

The company shares have rallied 65.53% from its 1 Year high price. On Jul 24, 2015, the shares registered one year high at $19.45 and the one year low was seen on Jul 9, 2015. The 50-Day Moving Average price is $8.27 and the 200 Day Moving Average price is recorded at $8.34.

Inotek Pharmaceuticals Corporation is a clinical-stage biopharmaceutical company advancing molecules with new mechanisms of action to address diseases of the eye. The Companys business strategy is to develop and progress its product candidates through human clinical trials. The Company is focused on the discovery, development and commercialization of therapies for glaucoma. Its lead product candidate, trabodenoson, is a selective adenosine mimetic that is designed to lower intraocular pressure (IOP) by restoring the eyes natural pressure control mechanism. The Companys product pipeline includes trabodenoson monotherapy delivered in an eye drop formulation, as well as a fixed dose combination (FDC) of trabodenoson with latanoprost given once-daily (QD).

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