Intec Pharma (NASDAQ:NTEC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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. “
A number of other brokerages also recently issued reports on NTEC. Oppenheimer set a $15.00 price target on Intec Pharma and gave the company a “buy” rating in a report on Wednesday, August 15th. HC Wainwright set a $16.00 price target on Intec Pharma and gave the company a “buy” rating in a report on Wednesday, October 24th. Finally, Roth Capital initiated coverage on Intec Pharma in a report on Friday, October 5th. They issued a “buy” rating and a $8.50 price target on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $11.40.
Shares of NASDAQ:NTEC opened at $5.89 on Thursday. Intec Pharma has a 12-month low of $3.55 and a 12-month high of $7.50. The firm has a market capitalization of $190.06 million, a PE ratio of -3.57 and a beta of 0.71.
Intec Pharma (NASDAQ:NTEC) last announced its quarterly earnings results on Wednesday, August 15th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.02). As a group, sell-side analysts anticipate that Intec Pharma will post -1.36 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new position in Intec Pharma during the 1st quarter worth $138,000. Jane Street Group LLC purchased a new position in Intec Pharma during the 1st quarter worth $185,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Intec Pharma during the 2nd quarter worth $132,000. PNC Financial Services Group Inc. purchased a new position in Intec Pharma during the 2nd quarter worth $220,000. Finally, Renaissance Technologies LLC grew its stake in Intec Pharma by 484.3% during the 2nd quarter. Renaissance Technologies LLC now owns 88,898 shares of the biotechnology company’s stock worth $391,000 after buying an additional 73,684 shares during the last quarter. Institutional investors and hedge funds own 47.01% of the company’s stock.
About Intec Pharma
Intec Pharma Ltd., a clinical stage biopharmaceutical company, focuses on developing drugs based on its proprietary Accordion Pill platform technology in Israel. Its Accordion Pill is an oral drug delivery system that is designed to enhance the efficacy and safety of existing drugs and drugs in development by utilizing a gastric retention and specific release mechanism.
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