Intec Pharma (NASDAQ:NTEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $8.50 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 15.65% from the stock’s current price.
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 have also commented on the company. HC Wainwright set a $16.00 price target on 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 Intec Pharma and gave the company a “buy” rating in a research report on Wednesday, August 15th. Roth Capital initiated coverage on 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 raised 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, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.00.
Intec Pharma (NASDAQ:NTEC) last released its quarterly earnings results on Friday, November 9th. The biotechnology company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Research analysts predict that Intec Pharma will post -1.33 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in Intec Pharma by 50.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 75,000 shares of the biotechnology company’s stock valued at $424,000 after buying an additional 25,000 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Intec Pharma by 13.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 589,996 shares of the biotechnology company’s stock valued at $3,333,000 after buying an additional 67,929 shares during the last quarter. Renaissance Technologies LLC raised its position in Intec Pharma by 484.3% in the 2nd quarter. Renaissance Technologies LLC now owns 88,898 shares of the biotechnology company’s stock valued at $391,000 after buying an additional 73,684 shares during the last quarter. Laurion Capital Management LP bought a new position in Intec Pharma in the 3rd quarter valued at $532,000. Finally, ARK Investment Management LLC bought a new position in Intec Pharma in the 3rd quarter valued at $609,000. 39.67% of the stock is owned by institutional investors and hedge funds.
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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