Intec Pharma (NASDAQ:NTEC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, December 19th.
According to Zacks, “Intec Pharma Ltd. is a biopharmaceutical company. The company focused on developing drugs through proprietary Accordion Pill platform technology. Its product candidates in clinical trial stages consists of Accordion Pill Carbidopa/Levodopa developed for the indication of treatment of Parkinson’s disease symptoms; Accordion Pill Zaleplon is being developed for the indication of treatment of insomnia, including sleep induction and the improvement of sleep maintenance. Intec Pharma Ltd. is based in JERUSALEM, Israel. “
Other equities analysts have also recently issued research reports about the company. Oppenheimer set a $15.00 target price on Intec Pharma and gave the stock a “buy” rating in a research report on Monday, December 18th. Maxim Group set a $8.00 target price on Intec Pharma and gave the stock a “buy” rating in a research report on Friday, November 17th. CIBC reiterated an “outperform” rating and set a $15.00 target price (up previously from $10.00) on shares of Intec Pharma in a research report on Thursday, September 21st. Finally, ValuEngine lowered Intec Pharma from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.20.
Intec Pharma (NASDAQ NTEC) opened at $7.15 on Tuesday. Intec Pharma has a 52-week low of $4.20 and a 52-week high of $9.80.
Hedge funds have recently bought and sold shares of the stock. Caxton Corp purchased a new stake in Intec Pharma in the 3rd quarter valued at approximately $681,000. Sectoral Asset Management Inc purchased a new stake in Intec Pharma in the 3rd quarter valued at approximately $3,177,000. Pura Vida Investments LLC purchased a new stake in Intec Pharma in the 3rd quarter valued at approximately $895,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in Intec Pharma by 5.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 522,200 shares of the biotechnology company’s stock valued at $2,977,000 after buying an additional 25,000 shares in the last quarter. 40.16% of the stock is currently owned by hedge funds and other institutional investors.
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Intec Pharma Company Profile
Intec Pharma Ltd is an Israel-based drug development company. It is a development stage biopharmaceutical company that develops formulations of drugs using its proprietary gastric retention technology, the Accordion Pill. The Accordion Pill, a novel gastro-retentive delivery system, improves the pharmacokinetics and pharmacodynamics of various drugs.
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