Neonc Technologies’ (NTHI) Buy Rating Reaffirmed at BTIG Research

Neonc Technologies (NASDAQ:NTHI)‘s stock had its “buy” rating restated by analysts at BTIG Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $15.00 price target on the stock. BTIG Research’s price target suggests a potential upside of 180.90% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Weiss Ratings raised shares of Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Maxim Group initiated coverage on shares of Neonc Technologies in a research report on Monday, May 18th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Alliance Global Partners initiated coverage on shares of Neonc Technologies in a research report on Tuesday, May 19th. They issued a “buy” rating and a $13.00 price target for the company. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.00.

Neonc Technologies Price Performance

NASDAQ NTHI opened at $5.34 on Tuesday. The company has a 50 day simple moving average of $5.94 and a 200-day simple moving average of $7.99. Neonc Technologies has a 52-week low of $3.20 and a 52-week high of $12.99.

Neonc Technologies (NASDAQ:NTHI) last posted its quarterly earnings results on Monday, May 18th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.16).

Insider Buying and Selling

In other news, President Amir F. Heshmatpour acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were purchased at an average price of $6.09 per share, for a total transaction of $121,800.00. Following the completion of the acquisition, the president owned 3,012,000 shares of the company’s stock, valued at approximately $18,343,080. This represents a 0.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 80,700 shares of company stock valued at $423,590 in the last 90 days.

Hedge Funds Weigh In On Neonc Technologies

A number of hedge funds have recently added to or reduced their stakes in NTHI. Barclays PLC increased its holdings in Neonc Technologies by 5,314.8% in the fourth quarter. Barclays PLC now owns 9,151 shares of the company’s stock worth $76,000 after buying an additional 8,982 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in Neonc Technologies in the third quarter worth approximately $100,000. Goldman Sachs Group Inc. acquired a new position in Neonc Technologies in the fourth quarter worth approximately $124,000. OMERS ADMINISTRATION Corp acquired a new position in Neonc Technologies in the fourth quarter worth approximately $126,000. Finally, Royal Bank of Canada acquired a new position in Neonc Technologies in the first quarter worth approximately $247,000.

Neonc Technologies Company Profile

Neonc Technologies Holdings, Inc develops novel molecular technology that provides enhanced targeted delivery of technologies for treating central nervous system diseases. Its lead products in development include NEO100, which is in Phase 2a clinical trials for treating glioblastoma; and NEO212, a covalently conjugated molecule combining the chemotherapeutic drug temozolomide with perillyl alcohol that is completed preclinical testing. The company was incorporated in 2023 and is based in Los Angeles, California.