Intec Pharma (NTEC) Rating Increased to Buy at Zacks Investment Research

Intec Pharma (NASDAQ:NTEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a $8.50 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.56% from the company’s current price.

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 research analysts have also issued reports about the company. HC Wainwright set a $16.00 price objective on Intec Pharma and gave the company a “buy” rating in a research report on Thursday, August 16th. Oppenheimer set a $15.00 price objective on Intec Pharma and gave the company a “buy” rating in a research report on Wednesday, August 15th. ValuEngine raised Intec Pharma from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Finally, Roth Capital began coverage on Intec Pharma in a research report on Friday, October 5th. They issued a “buy” rating and a $8.50 price objective on the stock. Seven analysts have rated the stock with a buy rating, Intec Pharma has an average rating of “Buy” and an average target price of $12.00.

NASDAQ:NTEC opened at $7.83 on Thursday. Intec Pharma has a 12 month low of $3.55 and a 12 month high of $7.98. The stock has a market capitalization of $227.15 million, a price-to-earnings ratio of -4.75 and a beta of 0.75.

Intec Pharma (NASDAQ:NTEC) last released its quarterly earnings data on Friday, November 9th. The biotechnology company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. As a group, equities research analysts anticipate that Intec Pharma will post -1.33 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NTEC. Prosight Management LP grew its stake in Intec Pharma by 18.8% during the third quarter. Prosight Management LP now owns 1,337,191 shares of the biotechnology company’s stock worth $7,555,000 after buying an additional 212,038 shares during the last quarter. Laurion Capital Management LP bought a new stake in Intec Pharma during the third quarter worth about $532,000. PNC Financial Services Group Inc. grew its stake in Intec Pharma by 50.0% during the third quarter. PNC Financial Services Group Inc. now owns 75,000 shares of the biotechnology company’s stock worth $424,000 after buying an additional 25,000 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Intec Pharma by 13.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 589,996 shares of the biotechnology company’s stock worth $3,333,000 after buying an additional 67,929 shares during the last quarter. Finally, ARK Investment Management LLC bought a new stake in Intec Pharma during the third quarter worth about $609,000. 39.67% of the stock is currently owned by institutional investors.

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.

Recommended Story: How are the companies in the S&P 500 selected?

Get a free copy of the Zacks research report on Intec Pharma (NTEC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Intec Pharma (NASDAQ:NTEC)

Receive News & Ratings for Intec Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intec Pharma and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply