Intec Pharma Ltd (NASDAQ:NTEC) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,070,000 shares, an increase of 120.5% from the August 30th total of 485,300 shares. Based on an average daily trading volume, of 2,550,000 shares, the short-interest ratio is presently 0.4 days. Approximately 3.9% of the company’s stock are sold short.
Several brokerages have recently commented on NTEC. Roth Capital cut Intec Pharma from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $10.00 to $1.00 in a research report on Friday. ValuEngine raised Intec Pharma from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research cut Intec Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Maxim Group cut Intec Pharma from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, Oppenheimer cut Intec Pharma from an “outperform” rating to a “market perform” rating in a research report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.92.
NTEC traded up $0.01 during trading on Friday, reaching $0.73. 302,453 shares of the stock traded hands, compared to its average volume of 1,020,963. The stock has a market cap of $26.12 million, a price-to-earnings ratio of -0.52 and a beta of -0.01. Intec Pharma has a fifty-two week low of $0.41 and a fifty-two week high of $9.25. The stock’s 50-day simple moving average is $0.80 and its two-hundred day simple moving average is $3.47.
Intec Pharma (NASDAQ:NTEC) last released its quarterly earnings data on Friday, August 9th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). On average, equities research analysts expect that Intec Pharma will post -0.98 EPS for the current year.
In other Intec Pharma news, CEO Jeffrey A. Meckler bought 100,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $0.46 per share, with a total value of $46,000.00. Following the completion of the transaction, the chief executive officer now directly owns 176,761 shares in the company, valued at approximately $81,310.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 145,000 shares of company stock valued at $71,350. 3.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new position in Intec Pharma during the first quarter valued at about $117,000. JPMorgan Chase & Co. bought a new position in Intec Pharma during the second quarter valued at about $125,000. Private Advisors LLC bought a new position in Intec Pharma during the first quarter valued at about $225,000. Morgan Stanley raised its holdings in Intec Pharma by 38.4% during the second quarter. Morgan Stanley now owns 81,931 shares of the biotechnology company’s stock valued at $356,000 after buying an additional 22,715 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Intec Pharma during the second quarter valued at about $593,000. Institutional investors own 35.51% of the company’s stock.
Intec Pharma Company Profile
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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