Inotek Pharmaceuticals (ITEK) Upgraded at BidaskClub

BidaskClub upgraded shares of Inotek Pharmaceuticals (NASDAQ:ITEK) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.

Separately, Zacks Investment Research downgraded Inotek Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, September 12th.

Shares of Inotek Pharmaceuticals (NASDAQ ITEK) traded down $0.16 during midday trading on Friday, reaching $3.04. The company’s stock had a trading volume of 394,100 shares, compared to its average volume of 753,067. The company has a debt-to-equity ratio of 0.97, a quick ratio of 27.63 and a current ratio of 27.63. The firm has a market capitalization of $342.73 and a P/E ratio of -0.55. Inotek Pharmaceuticals has a 12-month low of $0.85 and a 12-month high of $3.80.

Several institutional investors have recently added to or reduced their stakes in ITEK. GSA Capital Partners LLP increased its stake in shares of Inotek Pharmaceuticals by 4.3% in the second 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 period. Goldman Sachs Group Inc. increased its stake in shares of Inotek Pharmaceuticals by 195.6% in the second 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 period. Sabby Management LLC increased its stake in shares of Inotek Pharmaceuticals by 110.7% in the second 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 period. Jennison Associates LLC acquired a new position in shares of Inotek Pharmaceuticals in the third quarter valued at approximately $2,771,000. Finally, Boothbay Fund Management LLC increased its stake in shares of Inotek Pharmaceuticals by 94.0% in the third quarter. Boothbay Fund Management LLC now owns 139,731 shares of the biotechnology company’s stock valued at $249,000 after buying an additional 67,687 shares during the period. 37.00% of the stock is owned by institutional investors.

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About Inotek Pharmaceuticals

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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