Intec Pharma (NASDAQ:NTEC) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $8.08 and last traded at $8.00, with a volume of 8297 shares changing hands. The stock had previously closed at $7.83.
NTEC has been the subject of a number of research reports. Oppenheimer set a $15.00 target price on shares of Intec Pharma and gave the company a “buy” rating in a research note on Wednesday, August 15th. HC Wainwright set a $16.00 target price on shares of Intec Pharma and gave the company a “buy” rating in a research note on Thursday, August 16th. Roth Capital initiated coverage on shares of Intec Pharma in a research note on Friday, October 5th. They set a “buy” rating and a $8.50 target price for the company. Zacks Investment Research raised shares of Intec Pharma from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research note on Wednesday, October 17th. Finally, ValuEngine raised shares of Intec Pharma from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $12.00.
The company has a market cap of $257.35 million, a PE ratio of -4.45 and a beta of 0.75.
Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. acquired a new stake in shares of Intec Pharma in the 2nd quarter valued at $220,000. Renaissance Technologies LLC lifted its stake in shares of Intec Pharma by 484.3% in the 2nd quarter. Renaissance Technologies LLC now owns 88,898 shares of the biotechnology company’s stock valued at $391,000 after purchasing an additional 73,684 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of Intec Pharma in the 3rd quarter valued at $532,000. ARK Investment Management LLC acquired a new stake in shares of Intec Pharma in the 3rd quarter valued at $609,000. Finally, 683 Capital Management LLC acquired a new stake in shares of Intec Pharma in the 2nd quarter valued at $660,000. 39.67% of the stock is owned by institutional investors and hedge funds.
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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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