Intec Pharma (NASDAQ:NTEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $5.50 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 6.80% 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. “
Several other brokerages have also recently commented on NTEC. Roth Capital reissued a “buy” rating and set a $10.00 target price on shares of Intec Pharma in a report on Tuesday, June 26th. Oppenheimer set a $15.00 target price on Intec Pharma and gave the stock a “buy” rating in a report on Wednesday, August 15th. Finally, HC Wainwright set a $16.00 target price on Intec Pharma and gave the stock a “buy” rating in a report on Thursday, August 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $11.40.
Intec Pharma (NASDAQ:NTEC) last announced its earnings results on Wednesday, August 15th. The biotechnology company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.02). On average, analysts expect that Intec Pharma will post -1.36 EPS for the current year.
A number of institutional investors have recently bought and sold shares of NTEC. JPMorgan Chase & Co. acquired a new position in Intec Pharma in the first quarter worth approximately $138,000. Jane Street Group LLC acquired a new position in Intec Pharma in the first quarter worth approximately $185,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Intec Pharma in the second quarter worth approximately $132,000. PNC Financial Services Group Inc. acquired a new position in Intec Pharma in the second quarter worth approximately $220,000. Finally, DAFNA Capital Management LLC acquired a new position in Intec Pharma in the second quarter worth approximately $2,502,000. Hedge funds and other institutional investors own 45.09% 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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