Intec Pharma (NASDAQ:NTEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm currently has a $0.75 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 2.74% from the company’s previous close.
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 cut Intec Pharma from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $10.00 to $1.00 in a research report on Friday, October 11th. HC Wainwright cut Intec Pharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. ValuEngine raised Intec Pharma from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Oppenheimer cut Intec Pharma from an “outperform” rating to a “market perform” rating in a research report on Monday, July 22nd. Finally, LADENBURG THALM/SH SH reaffirmed a “hold” rating on shares of Intec Pharma in a research report on Monday, August 12th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Intec Pharma currently has an average rating of “Hold” and a consensus price target of $9.96.
Intec Pharma (NASDAQ:NTEC) last issued its earnings results on Friday, August 9th. The biotechnology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). Equities analysts forecast that Intec Pharma will post -0.95 earnings per share for the current fiscal year.
In related news, CEO Jeffrey A. Meckler acquired 100,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $0.46 per share, with a total value of $46,000.00. Following the completion of the acquisition, the chief executive officer now owns 176,761 shares in the company, valued at $81,310.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have acquired 145,000 shares of company stock valued at $71,350. Company insiders own 3.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Intec Pharma by 25.9% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 729,193 shares of the biotechnology company’s stock valued at $3,165,000 after acquiring an additional 150,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Intec Pharma by 1,335.5% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 624,809 shares of the biotechnology company’s stock valued at $2,711,000 after acquiring an additional 581,283 shares during the period. River & Mercantile Asset Management LLP bought a new position in shares of Intec Pharma during the second quarter valued at $1,230,000. Renaissance Technologies LLC bought a new position in shares of Intec Pharma during the second quarter valued at $593,000. Finally, Morgan Stanley lifted its holdings in shares of Intec Pharma by 38.4% during the second quarter. Morgan Stanley now owns 81,931 shares of the biotechnology company’s stock valued at $356,000 after acquiring an additional 22,715 shares during the period. 35.51% of the stock is owned by 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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