BTIG Research Reiterates Buy Rating for Neonc Technologies (NASDAQ:NTHI)

Neonc Technologies (NASDAQ:NTHI)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a research note issued on Tuesday, Benzinga reports. They presently have a $15.00 target price on the stock. BTIG Research’s price objective would suggest a potential upside of 198.21% from the company’s previous close.

Several other equities research analysts have also recently weighed in on NTHI. Wall Street Zen cut Neonc Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings raised Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Maxim Group initiated coverage on Neonc Technologies in a report on Monday, May 18th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Alliance Global Partners assumed coverage on Neonc Technologies in a research note on Tuesday, May 19th. They issued a “buy” rating and a $13.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.00.

Neonc Technologies Price Performance

Shares of NTHI opened at $5.03 on Tuesday. The firm’s 50 day moving average is $4.13 and its 200-day moving average is $5.52. Neonc Technologies has a 12 month low of $3.01 and a 12 month high of $12.99.

Neonc Technologies (NASDAQ:NTHI) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.46).

Insider Buying and Selling

In other Neonc Technologies news, CEO Thomas C. Chen acquired 12,757 shares of Neonc Technologies stock in a transaction on Tuesday, August 18th. The stock was purchased at an average price of $5.49 per share, for a total transaction of $70,035.93. Following the purchase, the chief executive officer directly owned 13,705 shares of the company’s stock, valued at $75,240.45. This trade represents a 1,345.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Amir F. Heshmatpour bought 9,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were acquired at an average price of $5.54 per share, for a total transaction of $49,860.00. Following the completion of the purchase, the chief executive officer directly owned 3,096,000 shares in the company, valued at approximately $17,151,840. This trade represents a 0.29% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 36,757 shares of company stock valued at $178,486 over the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTHI. Barclays PLC raised its holdings in shares of Neonc Technologies by 5,314.8% in the 4th quarter. Barclays PLC now owns 9,151 shares of the company’s stock worth $76,000 after purchasing an additional 8,982 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Neonc Technologies during the fourth quarter valued at about $124,000. OMERS ADMINISTRATION Corp purchased a new stake in Neonc Technologies during the fourth quarter valued at about $126,000. Royal Bank of Canada bought a new position in Neonc Technologies during the first quarter worth about $247,000. Finally, Global Retirement Partners LLC bought a new position in Neonc Technologies during the second quarter worth about $126,000.

Neonc Technologies Company Profile

Neonc Technologies Holdings, Inc develops novel molecular technology that provides enhanced targeted delivery of technologies for treating central nervous system diseases. Its lead products in development include NEO100, which is in Phase 2a clinical trials for treating glioblastoma; and NEO212, a covalently conjugated molecule combining the chemotherapeutic drug temozolomide with perillyl alcohol that is completed preclinical testing. The company was incorporated in 2023 and is based in Los Angeles, California.