Intec Pharma (NTEC) Lowered to Hold at Zacks Investment Research
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 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. “
NTEC has been the topic of a number of other research reports. Oppenheimer set a $15.00 price objective on shares of Intec Pharma and gave the company a “buy” rating in a research note on Friday, October 13th. ValuEngine cut shares of Intec Pharma from a “hold” rating to a “sell” rating in a report on Thursday, November 16th. Maxim Group set a $8.00 target price on shares of Intec Pharma and gave the stock a “buy” rating in a report on Friday, November 17th. Finally, CIBC restated an “outperform” rating and set a $15.00 target price (up from $10.00) on shares of Intec Pharma in a report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $10.70.
A number of institutional investors have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Intec Pharma by 5.0% in the 2nd 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. Caxton Corp purchased a new stake in Intec Pharma in the 3rd quarter worth approximately $681,000. Pura Vida Investments LLC purchased a new stake in Intec Pharma in the 3rd quarter worth approximately $895,000. Finally, Sectoral Asset Management Inc purchased a new stake in Intec Pharma in the 3rd quarter worth approximately $3,177,000. 40.16% of the stock is owned by hedge funds and other institutional investors.
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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