Intec Pharma (NASDAQ:NTEC) Trading Down 5.3%

Intec Pharma Ltd (NASDAQ:NTEC)’s stock price was down 5.3% during mid-day trading on Thursday . The stock traded as low as $0.70 and last traded at $0.72, approximately 629,462 shares were traded during trading. A decline of 39% from the average daily volume of 1,024,624 shares. The stock had previously closed at $0.76.

Several research analysts have recently issued reports on NTEC shares. LADENBURG THALM/SH SH restated a “hold” rating on shares of Intec Pharma in a report on Monday, August 12th. Oppenheimer cut shares of Intec Pharma from an “outperform” rating to a “market perform” rating in a research note on Monday, July 22nd. HC Wainwright cut shares of Intec Pharma from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Maxim Group cut shares of Intec Pharma from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Zacks Investment Research cut shares of Intec Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $10.92.

The firm has a market cap of $25.01 million, a P/E ratio of -0.52 and a beta of -0.01. The stock’s 50 day moving average is $0.80 and its two-hundred day moving average is $3.47.

Intec Pharma (NASDAQ:NTEC) last posted its earnings results on Friday, August 9th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.02). As a group, analysts predict that Intec Pharma Ltd will post -0.98 earnings per share for the current fiscal year.

In other news, CEO Jeffrey A. Meckler purchased 100,000 shares of Intec Pharma stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $0.46 per share, for a total transaction of $46,000.00. Following the completion of the transaction, the chief executive officer now directly owns 176,761 shares in the company, valued at $81,310.06. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders purchased 145,000 shares of company stock worth $71,350. 3.30% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in NTEC. Marshall Wace North America L.P. acquired a new position in shares of Intec Pharma during the first quarter worth approximately $117,000. JPMorgan Chase & Co. acquired a new position in shares of Intec Pharma during the second quarter worth approximately $125,000. Private Advisors LLC acquired a new position in shares of Intec Pharma during the first quarter worth approximately $225,000. Morgan Stanley lifted its position in shares of Intec Pharma by 38.4% during the second quarter. Morgan Stanley now owns 81,931 shares of the biotechnology company’s stock worth $356,000 after purchasing an additional 22,715 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Intec Pharma during the second quarter worth approximately $593,000. Hedge funds and other institutional investors own 35.51% of the company’s stock.

Intec Pharma Company Profile (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.

Further Reading: Basic Economics

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