The Inotek Pharmaceuticals Corp. (ITEK) Earns Buy Rating from the Analysts at the Canaccord Genuity

The Inotek Pharmaceuticals Corp. (ITEK) Earns Buy Rating from the Analysts at the Canaccord Genuity

Canaccord Genuity started coverage on shares of Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) in a report issued on Tuesday morning. The brokerage issued a buy rating and a $20.00 price target on the stock.

Other equities analysts have also issued reports about the company. Roth Capital initiated coverage on Inotek Pharmaceuticals Corp. in a research report on Thursday, December 1st. They issued a buy rating and a $10.00 price objective for the company. HC Wainwright reiterated a buy rating on shares of Inotek Pharmaceuticals Corp. in a research report on Monday, November 14th.

Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) opened at 6.85 on Tuesday. The stock has a 50 day moving average of $6.64 and a 200-day moving average of $7.56. Inotek Pharmaceuticals Corp. has a 52-week low of $5.81 and a 52-week high of $11.95. The company’s market cap is $184.47 million.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Inotek Pharmaceuticals Corp. by 119.2% in the second quarter. BlackRock Fund Advisors now owns 788,315 shares of the company’s stock worth $5,865,000 after buying an additional 428,703 shares during the period. State Street Corp purchased a new position in Inotek Pharmaceuticals Corp. during the second quarter worth $1,878,000. Price T Rowe Associates Inc. MD increased its position in Inotek Pharmaceuticals Corp. by 28.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 939,081 shares of the company’s stock worth $8,902,000 after buying an additional 210,648 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Inotek Pharmaceuticals Corp. by 70.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 470,000 shares of the company’s stock worth $3,497,000 after buying an additional 195,000 shares during the period. Finally, Sphera Funds Management LTD. increased its position in Inotek Pharmaceuticals Corp. by 60.7% in the third quarter. Sphera Funds Management LTD. now owns 401,764 shares of the company’s stock worth $3,809,000 after buying an additional 151,764 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

About Inotek Pharmaceuticals Corp.

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