Intec Pharma (NTEC) Upgraded by Zacks Investment Research to “Buy”

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.

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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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