Oppenheimer analyst Jay Olson maintained a Buy rating on Intec Pharma Ltd (NTEC) today and set a price target of $17. The company’s shares closed yesterday at $6.06.
Olson observed:
“NTEC reported 1Q19 EPS of ($0.32) roughly in line with ($0.37) consensus and our ($0.38). NTEC provided a business update identifying 2 potential monetization events by YE19: 1) ~$300M US market opportunity depending on effect sizes in PD patients for AP-CD/LD if Ph3 ACCORDANCE data (readout mid-2019) demonstrate >1-hour reduction in OFF time (comparable to Rytary), according to payer research; and 2) $1B+ market potential for Novartis’s partnered program which entered the clinic in 1Q19. We believe AP-CD/LD for PD is significantly de-risked following recent PK data exhibiting a smoother PK profile for 50/500mg TID dose vs. IR-CD/LD, and view NTEC’s AP platform technology as attractive to a wide-range of potential partners. We look forward to our PD KOL lunch event in Boston (5/14). Details inside.”
According to TipRanks.com, Olson ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.3% and a 37.4% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Enanta Pharmaceuticals.
Intec Pharma Ltd has an analyst consensus of Strong Buy, with a price target consensus of $14.33, a 136.5% upside from current levels. In a report issued on April 30, Ladenburg also maintained a Buy rating on the stock with a $15 price target.
See today’s analyst top recommended stocks >>
Based on Intec Pharma Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $10.66 million. In comparison, last year the company had a GAAP net loss of $10.73 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Intec Pharma Ltd. is a clinical-stage biopharmaceutical company, which focuses on developing drugs based on its proprietary Accordion Pill platform technology. Its product pipeline includes four product candidates in clinical trial stages: Accordion Pill Carbidopa/Levodopa, which is being developed for the treatment of Parkinson’s disease symptoms in advanced Parkinson’s disease patients; Accordion Pill Zaleplon, which is being developed for the treatment of insomnia, including sleep induction and the improvement of sleep maintenance; an Accordion Pill that is being developed for the prevention and treatment of gastroduodenal and small bowel Nonsteroidal Anti-Inflammatory Drug which induces ulcers; and AP-CBD/THC, an Accordion Pill with the two primary cannabinoids contained in Cannabis sativa, cannabidiol and tetrahydrocannabinol, which is being developed for various indications including low back neuropathic pain and fibromyalgia. The company was founded by Zvi Joseph in 2000 and is headquartered in Jerusalem, Israel.
