Inotek Pharmaceuticals Corporation (ITEK) : Traders are bullish on Inotek Pharmaceuticals Corporation (ITEK) as it has outperformed the S&P 500 by a wide margin of 4.68% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.1%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.63% in the last 1 week, and is up 4.55% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 3.43% and the 50-Day Moving Average is 6.75%.The 200 Day SMA reached 16.33%. Inotek Pharmaceuticals Corporation has dropped 23.66% during the last 3-month period . Year-to-Date the stock performance stands at -37.07%.
Inotek Pharmaceuticals Corporation (NASDAQ:ITEK): The stock opened in the green at $7.22 on Friday, but the bulls found it difficult to push the prices higher. The stock reached a high of $7.253 and a low of $7.03 for the day. The stock did not find buyers even at the lows and closed at $7.13 recording a loss of -0.56%. 128,750 shares exchanged hands during the trading day. The stock had closed at $7.17 in the previous days trading.
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).