Analyst Update: Inotek Pharmaceuticals Corp, Stratasys, Ltd., and MicroStrategy Incorporated

Analysts are weighing in today on biotech Inotek Pharmaceuticals Corp (NASDAQ:ITEK), 3-D printing firm Stratasys, Ltd. (NASDAQ:SSYS), and analytics concern MicroStrategy Incorporated (NASDAQ:MSTR). Here's a quick look at today's brokerage notes on ITEK, SSYS, and MSTR.

• ITEK is 4.7% higher at $17.55 this afternoon, thanks to Piper Jaffray. The brokerage announced that it was elevating Inotek Pharmaceuticals Corp's price target to $29 from $9 and rating ITEK at "overweight," and waxed optimistic on ITEK's experimental glaucoma drug, trabodenoson. Shares of the biopharmaceutical company nearly tripled last week, after the firm said trabodenoson was entering late-stage trials. Currently, ITEK's average 12-month price target is $23, which is roughly 30% higher than its current perch.  

• Jefferies cut its price target on SSYS to $50, but maintained a "buy" rating on the stock. The new price target is still 37% higher than Stratasys, Ltd.'s current position at $36.48. Technically, SSYS is facing overhead resistance in the form of its 10-week moving average. This trendline has pushed the stock lower since late 2014, and it appears rather comfortable in its current resistive position. If the stock is looking for potential rally fuel, it can be found in the form of short interest, which is heavy ahead of SSYS' turn in the earnings spotlight Thursday morning. Currently, a sizable 27% of SSYS's float is sold short -- which would take more than 11 days to exhaust, at the stock's average pace of trading. 

• Our final stock for the day is MicroStrategy Incorporated, which is more than 15.7% higher at $206.67 -- and touched a 14-year high of $207.27 in the process. JMP Securities upped MSTR's price target to $230 from $210, and underscored  a "market outperform" rating, after the company reported second-quarter earnings and appointed a new Chief Financial Officer. The better-than-expected results were attributed to product revenues, which grew for the first time in three quarters. The stock has performed well of late, riding higher along support from its 10-month moving average since August 2013. An extended rally could trigger an unwinding of bearish sentiment in the option pits, as MSTR's Schaeffer's put/call open interest ratio (SOIR) of 0.57 is higher than 78% of the readings taken in the past 52 weeks.