Intec Pharma (NTEC) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Intec Pharma (NASDAQ:NTEC) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
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 recently issued reports on the stock. Oppenheimer set a $15.00 target price on shares of Intec Pharma and gave the company a buy rating in a research report on Monday, December 18th. Maxim Group set a $8.00 target price on shares of Intec Pharma and gave the company a buy rating in a research report on Friday, November 17th. ValuEngine cut shares of Intec Pharma from a hold rating to a sell rating in a research report on Thursday, November 16th. Finally, CIBC reissued an outperform rating and issued a $15.00 target price (up previously from $10.00) on shares of Intec Pharma in a research report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Intec Pharma currently has a consensus rating of Buy and an average price target of $11.15.
Shares of Intec Pharma (NTEC) opened at $7.05 on Wednesday. Intec Pharma has a 52-week low of $4.20 and a 52-week high of $9.80.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pura Vida Investments LLC bought a new stake in Intec Pharma during the third quarter worth about $895,000. Sectoral Asset Management Inc bought a new stake in Intec Pharma during the third quarter worth about $3,177,000. Caxton Corp bought a new stake in Intec Pharma during the third quarter worth about $681,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in Intec Pharma by 5.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 522,200 shares of the biotechnology company’s stock worth $2,977,000 after purchasing an additional 25,000 shares during the period. 40.16% of the stock is 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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