Stock on Focus: Inotek Pharmaceuticals Corporation (ITEK)

Company Profile:

Inotek Pharmaceuticals Corporation, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for glaucoma. The companys lead product candidate includes Trabodenoson, an adenosine mimetic that has completed Phase II clinical trials for lowering IOP by restoring the eyes natural pressure control mechanism, as well as for optic neuropathy. Its product pipeline also includes Trabodenoson plus Latanoprost, a fixed-dose combination prostaglandin analogue, which has completed the Phase II clinical trials for IOP-lowering in patients who have previously had inadequate response to latanoprost. Inotek Pharmaceuticals Corporation was founded in 1999 and is headquartered in Lexington, Massachusetts.

Recent News:

Inotek Pharmaceuticals Corporation (ITEK) will host its first R&D Day on Thursday, December 17, 2015, from 10:00 a.m. to 1:30 p.m. EST in New York City. Members of the Inotek management team and distinguished guest speakers will provide an overview of glaucoma and other optic nerve neuropathies, and the Company’s lead product candidate, trabodenoson, a first-in-class selective adenosine mimetic currently in Phase 3 development.

For third Quarter 2015, cash and cash equivalents and short-term investments as of September 30, 2015, were $118.4 million; Research and development expenses were $3.6 million for the quarter ended September 30, 2015, compared to $1.2 million for the quarter ended September 30, 2014. Net loss was $56.0 million for the quarter ended September 30, 2015, compared to a net loss of $2.4 million for the quarter ended September 30, 2014.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

ITEK’s strengths can be seen in its better growth, robust profitability, strong solvency and strong efficiency. Technical indicators signal the bullish signs, as there is a bullish cross in MACD and Stochastic Oscillator and RSI is increasing to 53.31. The current P/BV ratio indicates it is undervalued compared to the average P/BV ratio of the industry and the sector. We rate Inotek Pharmaceuticals Corporation (ITEK) a Strong BUY.

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