Intec Pharma Ltd. (NTEC) Receives “Outperform” Rating from CIBC
CIBC reaffirmed their outperform rating on shares of Intec Pharma Ltd. (NASDAQ:NTEC) in a research report released on Thursday morning. They currently have a $15.00 target price on the biotechnology company’s stock, up from their prior target price of $10.00.
Several other equities research analysts have also issued reports on NTEC. Zacks Investment Research lowered Intec Pharma from a buy rating to a hold rating in a research report on Wednesday, May 24th. Maxim Group set a $9.00 target price on Intec Pharma and gave the company a buy rating in a research report on Wednesday, May 24th. ValuEngine lowered Intec Pharma from a hold rating to a sell rating in a research report on Friday, June 9th. Roth Capital set a $10.00 target price on Intec Pharma and gave the company a buy rating in a research report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. raised their target price on Intec Pharma from $10.00 to $15.00 and gave the company an outperform rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Intec Pharma presently has an average rating of Buy and a consensus price target of $10.90.
Intec Pharma (NTEC) opened at 8.95 on Thursday. Intec Pharma has a 52-week low of $4.20 and a 52-week high of $9.05. The firm’s 50-day moving average is $7.75 and its 200-day moving average is $7.75. The company’s market capitalization is $122.96 million.
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A hedge fund recently raised its stake in Intec Pharma stock. Migdal Insurance & Financial Holdings Ltd. increased its position in Intec Pharma Ltd. (NASDAQ:NTEC) by 5.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 522,200 shares of the biotechnology company’s stock after acquiring an additional 25,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned about 3.80% of Intec Pharma worth $2,977,000 as of its most recent SEC filing. 16.41% of the stock is currently owned by institutional investors and hedge funds.
About Intec Pharma
Intec Pharma Ltd is an Israel-based drug development company. It is a development stage biopharmaceutical company that develops formulations of drugs using its proprietary gastric retention technology, the Accordion Pill. The Accordion Pill, a novel gastro-retentive delivery system, improves the pharmacokinetics and pharmacodynamics of various drugs.
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