H.C. Wainwright Starts Inotek Pharmaceuticals (ITEK) at Buy
- Wall Street rises as energy, financial stocks gain
- Bernstein's Sacconaghi Sees Stronger Apple (AAPL) iPhone ASPs
- Fed may change stress tests, capital buffers for U.S. banks: Yellen
- BlackBerry (BBRY) Tops Q2 EPS by 5c; Will End Internal Hardware Development; Boosts FY17 Outlook
- Exclusive: CBS, Viacom controlling shareholder to call on companies to merge - sources
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
H.C. Wainwright initiated coverage on Inotek Pharmaceuticals (NASDAQ: ITEK) with a Buy rating and a price target of $22. Analyst Corey Davis is bullish on its lead drug, trabodenoson.
"Our investment thesis hinges on the success of trabodenoson (and its second product,trabodenoson in combination with latanoprost, FDC), for glaucoma. Inotek has successfully completed Phase 2 (one in 2012; the secondin 2015), it started the Phase 3 MATrX-1 monotherapy trial in September 2015, and started the Phase 2 combination study in July 2016. The first big data release should come from MATrX-1 in late2016—what we see as the primary near-term stock driver," said Davis.
Shares of Inotek Pharmaceuticals closed at $8.47 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: UBS Upgrades Hi-Crush Partners LP (HCLP) to Neutral
- UBS Cuts Price Target on Nike (NKE) to $67 Following 1Q Report
- Jefferies Raises Price Target on Workday (WDAY) to $79 Following User Conference and Analyst Day
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Related EntitiesH.C. Wainwright
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!