What’s Ahead for Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) After Less Shorted Shares?

January 22, 2018 - By Stephen Andrade

 What’s Ahead for Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) After Less Shorted Shares?

The stock of Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) registered a decrease of 11.99% in short interest. ITEK’s total short interest was 1.88M shares in January as published by FINRA. Its down 11.99% from 2.14 million shares, reported previously. With 168,500 shares average volume, it will take short sellers 11 days to cover their ITEK’s short positions. The short interest to Inotek Pharmaceuticals Corporation’s float is 10.09%.

The stock decreased 5.00% or $0.16 during the last trading session, reaching $3.04. About 394,182 shares traded or 15.77% up from the average. Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) has declined 80.56% since January 22, 2017 and is downtrending. It has underperformed by 97.26% the S&P500.

Inotek Pharmaceuticals Corporation, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for glaucoma and other diseases of the eye in the United States. The company has market cap of $20.69 million. The product pipeline includes Trabodenoson, a monotherapy dosed in an eye drop that is in Phase III clinical trials; Trabodenoson-Latanoprost Fixed-Dose Combination, which has completed Phase II study for use in patients with higher intraocular pressures; and Trabodenoson for optic neuropathy and degenerative retinal diseases. It currently has negative earnings.

Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) Ratings Coverage

Among 5 analysts covering Inotek Pharmaceuticals Corporation (NASDAQ:ITEK), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. Inotek Pharmaceuticals Corporation had 11 analyst reports since July 27, 2015 according to SRatingsIntel. H.C. Wainwright downgraded Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) on Tuesday, July 11 to “Neutral” rating. The stock of Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) has “Buy” rating given on Tuesday, December 20 by Canaccord Genuity. The firm has “Neutral” rating given on Tuesday, January 3 by Piper Jaffray. The stock of Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) has “Buy” rating given on Thursday, December 1 by Roth Capital. Chardan Capital Markets initiated Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) on Wednesday, December 2 with “Buy” rating. The company was downgraded on Wednesday, July 12 by Canaccord Genuity. H.C. Wainwright initiated the shares of ITEK in report on Tuesday, September 20 with “Buy” rating. As per Wednesday, January 4, the company rating was maintained by H.C. Wainwright. Piper Jaffray maintained Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) rating on Tuesday, July 28. Piper Jaffray has “Overweight” rating and $29 target.

More notable recent Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) news were published by: Seekingalpha.com which released: “Inotek Pharmaceuticals: A Graham-Dodd Style Cigar Butt Investment” on August 23, 2017, also Globenewswire.com with their article: “Rocket Pharmaceuticals, Inc. (Nasdaq: RCKT) to Ring The Nasdaq Stock Market …” published on January 04, 2018, Seekingalpha.com published: “Inotek: No Products, No Pipeline, No Problem” on August 18, 2017. More interesting news about Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) were released by: Seekingalpha.com and their article: “Inotek Pharmaceuticals Could Be Getting A Second Chance” published on March 21, 2017 as well as Seekingalpha.com‘s news article titled: “Inotek: High Risk-Reward Opportunity” with publication date: February 10, 2017.

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