BidaskClub downgraded shares of Intec Pharma (NASDAQ:NTEC) from a strong-buy rating to a buy rating in a research report report published on Wednesday.
A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Intec Pharma from a buy rating to a hold rating in a research note on Wednesday, November 21st. HC Wainwright reissued a buy rating and issued a $16.00 price target on shares of Intec Pharma in a research note on Monday, December 10th. Finally, ValuEngine raised Intec Pharma from a hold rating to a buy rating in a research note on Friday, November 16th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $11.95.
NASDAQ:NTEC traded up $0.05 during mid-day trading on Wednesday, reaching $7.53. 294,135 shares of the stock were exchanged, compared to its average volume of 199,300. Intec Pharma has a 1-year low of $3.55 and a 1-year high of $8.78.
Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. purchased a new position in Intec Pharma during the 2nd quarter valued at about $220,000. 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 valued at $391,000 after acquiring an additional 73,684 shares in the last quarter. Laurion Capital Management LP purchased a new position in Intec Pharma during the 3rd quarter valued at about $532,000. ARK Investment Management LLC purchased a new position in Intec Pharma during the 3rd quarter valued at about $609,000. Finally, 683 Capital Management LLC purchased a new position in Intec Pharma during the 2nd quarter valued at about $660,000. 39.67% of the stock is currently owned by hedge funds and other 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.
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