LADENBURG THALM/SH SH reaffirmed their hold rating on shares of Intec Pharma (NASDAQ:NTEC) in a report released on Monday morning, AnalystRatings.com reports.
“We are modeling mid-’19 cash is sufficient to fund operations till late 2020. While we appreciate Accordion Pill’s controlled-release abilities and still find AP-CBD/THC’s PK results vs. Sativex as impressive (290-330% and 25-50% higher exposures of CBD and THC, respectively, than Sativex), we have little insight into how the AP-Novartis Phase 1 may come out. Intec’s collaboration on an undisclosed compound was announced. Intec reported it successfully developed an a proprietary Novartis compound that met the prerequisite in vitro specifications. In 1Q’19 a human PK began, with the expectation for completion of the study and the results this summer, with Novartis making a go/no-go decision on a Phase 2 this fall.”,” the firm’s analyst wrote.
NTEC has been the topic of a number of other reports. HC Wainwright downgraded Intec Pharma from a buy rating to a neutral rating in a report on Wednesday, August 7th. Oppenheimer downgraded Intec Pharma from an outperform rating to a market perform rating in a report on Monday, July 22nd. ValuEngine upgraded Intec Pharma from a hold rating to a buy rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Intec Pharma from a sell rating to a hold rating and set a $6.50 price objective on the stock in a report on Tuesday, May 7th. Finally, Maxim Group downgraded Intec Pharma from a buy rating to a hold rating in a report on Monday, July 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $12.17.
Several hedge funds have recently bought and sold shares of the company. Knott David M grew its stake in shares of Intec Pharma by 2.5% in the first quarter. Knott David M now owns 290,434 shares of the biotechnology company’s stock valued at $2,129,000 after buying an additional 6,961 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Intec Pharma in the fourth quarter valued at about $67,000. Marshall Wace North America L.P. acquired a new stake in shares of Intec Pharma in the first quarter valued at about $117,000. Delek Group Ltd. acquired a new stake in shares of Intec Pharma in the first quarter valued at about $154,000. Finally, Morgan Stanley grew its stake in shares of Intec Pharma by 38.4% in the second quarter. Morgan Stanley now owns 81,931 shares of the biotechnology company’s stock valued at $356,000 after buying an additional 22,715 shares in the last quarter. Institutional investors and hedge funds own 35.31% of the company’s stock.
Intec Pharma Company Profile
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.
Further Reading: Market Timing
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