Zacks Investment Research lowered shares of Intec Pharma (NASDAQ:NTEC) from a buy rating to a hold rating in a research note published on Wednesday morning.
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. “
A number of other equities research analysts also recently weighed in on the stock. HC Wainwright set a $16.00 price target on shares of Intec Pharma and gave the company a buy rating in a research report on Thursday, August 16th. Oppenheimer set a $15.00 price target on shares of Intec Pharma and gave the company a buy rating in a research report on Wednesday, August 15th. Roth Capital started coverage on shares of Intec Pharma in a research report on Friday, October 5th. They issued a buy rating and a $8.50 price target for the company. Finally, ValuEngine upgraded shares of Intec Pharma from a hold rating to a buy rating in a research report on Friday, November 16th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $11.60.
Intec Pharma (NASDAQ:NTEC) last released its quarterly earnings results on Friday, November 9th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. On average, equities research analysts forecast that Intec Pharma will post -1.33 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Intec Pharma in the second quarter valued at approximately $132,000. JPMorgan Chase & Co. acquired a new position in Intec Pharma during the first quarter valued at approximately $138,000. PNC Financial Services Group Inc. acquired a new position in Intec Pharma during the second quarter valued at approximately $220,000. Renaissance Technologies LLC raised its position in Intec Pharma by 484.3% during the second quarter. Renaissance Technologies LLC now owns 88,898 shares of the biotechnology company’s stock valued at $391,000 after purchasing an additional 73,684 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new position in Intec Pharma during the third quarter valued at approximately $532,000. Institutional investors own 39.63% 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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