Intec Pharma (NASDAQ:NTEC) Downgraded to “Neutral” at Roth Capital
Roth Capital cut shares of Intec Pharma (NASDAQ:NTEC) from a buy rating to a neutral rating in a research report sent to investors on Friday, Briefing.com Automated Import reports. Roth Capital currently has $1.00 target price on the biotechnology company’s stock, down from their prior target price of $10.00.
NTEC has been the subject of a number of other reports. Oppenheimer cut Intec Pharma from an outperform rating to a market perform rating in a report on Monday, July 22nd. LADENBURG THALM/SH SH reissued a hold rating on shares of Intec Pharma in a report on Monday, August 12th. HC Wainwright cut Intec Pharma from a buy rating to a neutral rating in a report on Wednesday, August 7th. ValuEngine raised Intec Pharma from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, Zacks Investment Research cut Intec Pharma from a buy rating to a hold rating in a report on Tuesday, September 24th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $10.92.
Shares of NASDAQ NTEC traded down $0.01 during midday trading on Friday, reaching $0.72. 303,134 shares of the company traded hands, compared to its average volume of 1,017,344. The firm has a market cap of $24.01 million, a PE ratio of -0.51 and a beta of -0.01. The stock’s 50-day simple moving average is $0.80 and its 200-day simple moving average is $3.47. Intec Pharma has a 12 month low of $0.41 and a 12 month high of $9.25.
In other Intec Pharma news, CEO Jeffrey A. Meckler bought 100,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $0.46 per share, for a total transaction of $46,000.00. Following the completion of the purchase, the chief executive officer now owns 176,761 shares in the company, valued at approximately $81,310.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders bought 145,000 shares of company stock valued at $71,350. 3.30% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Marshall Wace North America L.P. acquired a new stake in shares of Intec Pharma in the first quarter valued at $117,000. Morgan Stanley increased 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. JPMorgan Chase & Co. acquired a new stake in shares of Intec Pharma in the second quarter valued at $125,000. Private Advisors LLC acquired a new stake in shares of Intec Pharma in the first quarter valued at $225,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Intec Pharma in the second quarter valued at $593,000. Institutional investors own 35.51% 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.
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