Inotek Pharmaceuticals Corporation (ITEK) : During the past 4 weeks, traders have been relatively bearish on Inotek Pharmaceuticals Corporation (ITEK), hence the stock is down -22.35% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -28.37% relative to the S&P 500. The 4-week change in the price of the stock is -20.42% and the stock has fallen -28.06% in the past 1 week.
Inotek Pharmaceuticals Corporation (NASDAQ:ITEK): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.77 and $6.62 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.82. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.82, notching a gain of 1.49% for the day. The total traded volume was 214,621 . The stock had closed at $6.72 on the previous day.
The stock has recorded a 20-day Moving Average of 18.49% and the 50-Day Moving Average is 17.1%. Inotek Pharmaceuticals Corporation has dropped 34.55% during the last 3-month period . Year-to-Date the stock performance stands at -39.81%.
Inotek Pharmaceuticals Corporation (ITEK) : The consensus price target for Inotek Pharmaceuticals Corporation (ITEK) is $34.5 for the short term with a standard deviation of $7.78. The most optimist securities analyst among the 2 who monitor the stock believes that the stock can reach $40, however, the pessimist price target for the company is $29.
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).