Intec Pharma (NTEC) Shares Up 10.4%
Shares of Intec Pharma (NASDAQ:NTEC) shot up 10.4% on Wednesday . The stock traded as high as $5.70 and last traded at $5.40. 585,600 shares traded hands during trading, an increase of 302% from the average session volume of 145,677 shares. The stock had previously closed at $4.89.
Several brokerages have recently weighed in on NTEC. Roth Capital restated a “buy” rating and set a $10.00 price objective on shares of Intec Pharma in a research report on Tuesday, June 26th. Zacks Investment Research downgraded shares of Intec Pharma from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Oppenheimer set a $15.00 price objective on shares of Intec Pharma and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Finally, HC Wainwright set a $16.00 price objective on shares of Intec Pharma and gave the stock a “buy” rating in a research report on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Intec Pharma has an average rating of “Buy” and an average price target of $11.70.
The stock has a market capitalization of $144.43 million, a price-to-earnings ratio of -2.96 and a beta of 1.12.
A number of hedge funds have recently added to or reduced their stakes in the stock. Acuta Capital Partners LLC raised its position in Intec Pharma by 8.7% in the 2nd quarter. Acuta Capital Partners LLC now owns 2,962,568 shares of the biotechnology company’s stock valued at $13,035,000 after purchasing an additional 238,285 shares during the last quarter. Prosight Management LP purchased a new stake in Intec Pharma in the 2nd quarter valued at $4,951,000. DAFNA Capital Management LLC purchased a new stake in Intec Pharma in the 2nd quarter valued at $2,502,000. 683 Capital Management LLC purchased a new stake in Intec Pharma in the 2nd quarter valued at $660,000. Finally, Renaissance Technologies LLC raised its position in Intec Pharma by 484.3% in the 2nd quarter. Renaissance Technologies LLC now owns 88,898 shares of the biotechnology company’s stock valued at $391,000 after purchasing an additional 73,684 shares during the last quarter. Hedge funds and other institutional investors own 45.09% of the company’s stock.
Intec Pharma Company Profile (NASDAQ:NTEC)
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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