Intec Pharma (NASDAQ:NTEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, December 20th. The firm currently has a $5.50 target price on the biotechnology company’s stock. Zacks Investment Research‘s target price indicates a potential downside of 23.08% from the stock’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. “
Several other equities analysts also recently commented on the stock. Oppenheimer set a $15.00 price objective on shares of Intec Pharma and gave the company a “buy” rating in a research note on Monday, December 18th. Maxim Group set a $8.00 price target on shares of Intec Pharma and gave the stock a “buy” rating in a research note on Friday, November 17th. ValuEngine downgraded shares of Intec Pharma from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. Finally, CIBC reissued an “outperform” rating and issued a $15.00 price target (up from $10.00) on shares of Intec Pharma in a research note on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Intec Pharma currently has a consensus rating of “Buy” and an average price target of $11.20.
Shares of Intec Pharma (NASDAQ NTEC) traded up $0.05 during trading hours on Wednesday, hitting $7.15. 109,390 shares of the stock traded hands, compared to its average volume of 182,739. Intec Pharma has a 52-week low of $4.20 and a 52-week high of $9.80.
A number of hedge funds have recently added to or reduced their stakes in NTEC. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of 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 valued at $2,977,000 after purchasing an additional 25,000 shares in the last quarter. Caxton Corp bought a new position in shares of Intec Pharma during the third quarter valued at approximately $681,000. Sectoral Asset Management Inc bought a new position in shares of Intec Pharma during the third quarter valued at approximately $3,177,000. Finally, Pura Vida Investments LLC bought a new position in shares of Intec Pharma during the third quarter valued at approximately $895,000. 40.16% of the stock is owned by institutional investors.
WARNING: “Intec Pharma (NTEC) Upgraded by Zacks Investment Research to “Buy”” was reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.thelincolnianonline.com/2018/01/14/zacks-investment-research-upgrades-intec-pharma-ntec-to-buy-updated-updated.html.
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.
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.