Zacks Investment Research Upgrades Intec Pharma Ltd. (NTEC) to Hold
Intec Pharma Ltd. (NASDAQ:NTEC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
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. “
Several other equities research analysts have also recently commented on the company. Roth Capital set a $10.00 price target on Intec Pharma and gave the company a “buy” rating in a report on Thursday, August 3rd. ValuEngine cut Intec Pharma from a “hold” rating to a “sell” rating in a report on Friday, June 9th. Oppenheimer Holdings, Inc. increased their price target on Intec Pharma from $10.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday. Finally, CIBC reaffirmed an “outperform” rating and issued a $15.00 price target (up previously from $10.00) on shares of Intec Pharma in a report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Intec Pharma has a consensus rating of “Buy” and an average price target of $10.90.
Intec Pharma (NASDAQ NTEC) opened at 8.95 on Friday. The stock has a 50 day moving average price of $7.75 and a 200-day moving average price of $7.75. Intec Pharma has a one year low of $4.20 and a one year high of $9.05. The stock’s market cap is $122.96 million.
A hedge fund recently raised its stake in Intec Pharma stock. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Intec Pharma Ltd. (NASDAQ:NTEC) by 5.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 522,200 shares of the biotechnology company’s stock after acquiring an additional 25,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned approximately 3.80% of Intec Pharma worth $2,977,000 at the end of the most recent quarter. 16.41% of the stock is currently owned by institutional investors and hedge funds.
About Intec Pharma
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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