Intec Pharma (NTEC) Downgraded by Zacks Investment Research to “Hold”
Intec Pharma (NASDAQ:NTEC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
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 analysts have also issued reports on NTEC. Oppenheimer boosted their price objective on Intec Pharma from $10.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, September 21st. CIBC reiterated an “outperform” rating and set a $15.00 price objective (up from $10.00) on shares of Intec Pharma in a research note on Thursday, September 21st. ValuEngine lowered Intec Pharma from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. Finally, Maxim Group set a $8.00 price objective on Intec Pharma and gave the company a “buy” rating in a research note on Friday, November 17th. 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. The company presently has a consensus rating of “Buy” and a consensus target price of $11.20.
Shares of Intec Pharma (NASDAQ NTEC) traded up $0.05 on Tuesday, hitting $7.15. The company’s stock had a trading volume of 109,300 shares, compared to its average volume of 231,333. Intec Pharma has a 52-week low of $4.20 and a 52-week high of $9.80.
Intec Pharma (NASDAQ:NTEC) last released its quarterly earnings data on Wednesday, November 15th. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.06). equities research analysts predict that Intec Pharma will post -1.35 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Caxton Corp bought a new stake in shares of Intec Pharma during the 3rd quarter valued at $681,000. Pura Vida Investments LLC bought a new stake in shares of Intec Pharma during the 3rd quarter valued at $895,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Intec Pharma by 5.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 522,200 shares of the biotechnology company’s stock valued at $2,977,000 after purchasing an additional 25,000 shares during the period. Finally, Sectoral Asset Management Inc bought a new stake in shares of Intec Pharma during the 3rd quarter valued at $3,177,000. Institutional investors own 40.16% of the company’s stock.
Intec Pharma Company Profile
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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