Intec Pharma (NTEC) Sees Strong Trading Volume

Intec Pharma (NASDAQ:NTEC) shares saw unusually-strong trading volume on Monday . Approximately 543,669 shares were traded during mid-day trading, an increase of 194% from the previous session’s volume of 184,824 shares.The stock last traded at $7.07 and had previously closed at $6.92.

A number of equities analysts have commented on NTEC shares. Oppenheimer set a $15.00 price target on shares of Intec Pharma and gave the company a “buy” rating in a research report on Sunday, September 30th. Zacks Investment Research downgraded shares of Intec Pharma from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. ValuEngine raised shares of Intec Pharma from a “hold” rating to a “buy” rating in a research note on Saturday. Roth Capital started coverage on shares of Intec Pharma in a research note on Friday, October 5th. They issued a “buy” rating and a $8.50 target price for the company. Finally, HC Wainwright set a $16.00 target price on shares of Intec Pharma and gave the stock a “buy” rating in a research note on Wednesday, October 24th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $11.60.

The company has a market capitalization of $227.15 million, a price-to-earnings ratio of -4.64 and a beta of 0.74.

Intec Pharma (NASDAQ:NTEC) last released its quarterly earnings results on Friday, November 9th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.03. Equities analysts predict that Intec Pharma will post -1.33 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new position in Intec Pharma during the second quarter worth $220,000. Renaissance Technologies LLC boosted its holdings in Intec Pharma by 484.3% during the second quarter. Renaissance Technologies LLC now owns 88,898 shares of the biotechnology company’s stock worth $391,000 after purchasing an additional 73,684 shares during the last quarter. Laurion Capital Management LP acquired a new position in Intec Pharma during the third quarter worth $532,000. ARK Investment Management LLC acquired a new position in Intec Pharma during the third quarter worth $609,000. Finally, 683 Capital Management LLC acquired a new position in Intec Pharma during the second quarter worth $660,000. Institutional investors own 39.67% of the company’s stock.

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About Intec Pharma (NASDAQ:NTEC)

Intec Pharma Ltd., a clinical stage biopharmaceutical company, focuses on developing drugs based on its proprietary Accordion Pill platform technology in Israel. Its Accordion Pill is an oral drug delivery system that is designed to enhance the efficacy and safety of existing drugs and drugs in development by utilizing a gastric retention and specific release mechanism.

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