Zacks Investment Research Lowers Intec Pharma (NTEC) to Hold
Intec Pharma (NASDAQ:NTEC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday.
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 brokerages have also issued reports on NTEC. BidaskClub raised Intec Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday. Oppenheimer set a $15.00 price objective on Intec Pharma and gave the stock a “buy” rating in a report on Sunday, December 2nd. ValuEngine raised Intec Pharma from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. HC Wainwright set a $16.00 price objective on Intec Pharma and gave the stock a “buy” rating in a report on Wednesday, October 24th. Finally, Roth Capital began coverage on Intec Pharma in a report on Friday, October 5th. They issued a “buy” rating and a $8.50 price objective for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Intec Pharma presently has an average rating of “Buy” and a consensus target price of $12.00.
Intec Pharma (NASDAQ:NTEC) last issued its quarterly earnings data on Friday, November 9th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. On average, analysts anticipate that Intec Pharma will post -1.33 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTEC. PNC Financial Services Group Inc. acquired a new stake in Intec Pharma in the second quarter worth approximately $220,000. DAFNA Capital Management LLC acquired a new stake in Intec Pharma in the second quarter worth approximately $2,502,000. Renaissance Technologies LLC lifted its position in Intec Pharma by 484.3% in the second quarter. Renaissance Technologies LLC now owns 88,898 shares of the biotechnology company’s stock worth $391,000 after purchasing an additional 73,684 shares during the period. Prosight Management LP acquired a new stake in Intec Pharma in the second quarter worth approximately $4,951,000. Finally, Acuta Capital Partners LLC lifted its position in Intec Pharma by 8.7% in the second quarter. Acuta Capital Partners LLC now owns 2,962,568 shares of the biotechnology company’s stock worth $13,035,000 after purchasing an additional 238,285 shares during the period. Hedge funds and other institutional investors own 39.67% 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.
Recommended Story: What are the risks of holding treasury bonds?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intec Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intec Pharma and related companies with MarketBeat.com's FREE daily email newsletter.