Intec Pharma (NASDAQ:NTEC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “
A number of other research firms have also weighed in on NTEC. Oppenheimer set a $15.00 price objective on Intec Pharma and gave the stock a “buy” rating in a research note on Friday, October 13th. CIBC reissued an “outperform” rating and set a $15.00 price objective (up previously from $10.00) on shares of Intec Pharma in a research note on Thursday, September 21st. Maxim Group set a $8.00 price objective on Intec Pharma and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, ValuEngine lowered Intec Pharma from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $11.15.
Several institutional investors have recently made changes to their positions in NTEC. Sectoral Asset Management Inc acquired a new position in Intec Pharma during the 3rd quarter worth about $3,177,000. Caxton Corp acquired a new position in Intec Pharma during the 3rd quarter worth about $681,000. Pura Vida Investments LLC acquired a new position in Intec Pharma during the 3rd quarter worth about $895,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in Intec Pharma by 5.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 522,200 shares of the biotechnology company’s stock worth $2,977,000 after acquiring an additional 25,000 shares in the last quarter. 40.16% of the stock is currently owned by institutional investors and hedge funds.
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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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