Intec Pharma (NTEC) Rating Increased to Buy at Zacks Investment Research
Intec Pharma (NASDAQ:NTEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The brokerage currently has a $7.75 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price points to a potential upside of 9.93% from the company’s previous close.
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. “
Other equities analysts have also issued research reports about the company. Oppenheimer increased their price target on Intec Pharma from $10.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Maxim Group set a $8.00 price target on Intec Pharma and gave the company a “buy” rating in a research report on Friday, November 17th. CIBC reiterated an “outperform” rating and issued a $15.00 price target (up previously from $10.00) on shares of Intec Pharma in a research report on Thursday, September 21st. Finally, ValuEngine lowered Intec Pharma from a “hold” rating to a “sell” rating in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $11.15.
Large investors have recently added to or reduced their stakes in the stock. Sectoral Asset Management Inc acquired a new position in shares of Intec Pharma in the 3rd quarter valued at $3,177,000. Caxton Corp acquired a new position in shares of Intec Pharma in the 3rd quarter valued at $681,000. Pura Vida Investments LLC acquired a new position in shares of Intec Pharma in the 3rd quarter valued at $895,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of 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 valued at $2,977,000 after purchasing an additional 25,000 shares during the period. Institutional investors and hedge funds own 40.16% of the company’s stock.
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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