Zacks Investment Research Downgrades Intec Pharma (NTEC) to Hold

Intec Pharma (NASDAQ:NTEC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, January 10th.

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. “

Other equities analysts have also issued research reports about the company. Oppenheimer set a $15.00 price objective on shares of Intec Pharma and gave the company a “buy” rating in a research report on Monday, December 18th. Maxim Group set a $8.00 price objective on shares of Intec Pharma and gave the company a “buy” rating in a research report on Friday, November 17th. CIBC restated an “outperform” rating and issued a $15.00 price objective (up previously from $10.00) on shares of Intec Pharma in a research report on Thursday, September 21st. Finally, ValuEngine downgraded shares of Intec Pharma from a “hold” rating to a “sell” rating in a research report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Intec Pharma has an average rating of “Buy” and a consensus target price of $11.20.

Shares of Intec Pharma (NASDAQ NTEC) opened at $6.90 on Wednesday. Intec Pharma has a 52 week low of $4.20 and a 52 week high of $9.80.

Intec Pharma (NASDAQ:NTEC) last issued its quarterly earnings data on Wednesday, November 15th. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.06). research analysts expect that Intec Pharma will post -1.35 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in NTEC. Sectoral Asset Management Inc purchased a new stake in Intec Pharma in the 3rd quarter worth approximately $3,177,000. Pura Vida Investments LLC purchased a new stake in Intec Pharma in the 3rd quarter worth approximately $895,000. Caxton Corp purchased a new stake in Intec Pharma in the 3rd quarter worth approximately $681,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in Intec Pharma by 5.0% in 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 during the period. 40.16% of the stock is owned by hedge funds and other institutional investors.

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Intec Pharma Company Profile

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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