Intec Pharma (NASDAQ:NTEC) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Intec Pharma (NASDAQ:NTEC) from a sell rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.

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. “

NTEC has been the topic of several other research reports. ValuEngine upgraded shares of Intec Pharma from a hold rating to a buy rating in a research report on Thursday, April 2nd. HC Wainwright reiterated a hold rating on shares of Intec Pharma in a research report on Monday, April 13th. Finally, LADENBURG THALM/SH SH reiterated a hold rating on shares of Intec Pharma in a research report on Monday, May 18th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $0.63.

Shares of NASDAQ:NTEC opened at $0.29 on Tuesday. Intec Pharma has a 52 week low of $0.13 and a 52 week high of $4.48. The company’s fifty day moving average is $0.32 and its 200-day moving average is $0.33. The company has a market capitalization of $20.06 million, a PE ratio of -0.25 and a beta of 0.75.

Intec Pharma (NASDAQ:NTEC) last issued its quarterly earnings results on Monday, May 11th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01). On average, equities research analysts predict that Intec Pharma will post -0.23 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Intec Pharma stock. Phoenix Holdings Ltd. grew its stake in Intec Pharma Ltd (NASDAQ:NTEC) by 315.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 600,706 shares of the biotechnology company’s stock after acquiring an additional 456,255 shares during the quarter. Phoenix Holdings Ltd. owned 1.13% of Intec Pharma worth $112,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.36% 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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