After Oppenheimer and Roth Capital gave Intec Pharma Ltd (NASDAQ: NTEC) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ram Selvaraju reiterated a Buy rating on Intec Pharma Ltd today and set a price target of $16. The company’s shares closed yesterday at $5.55.
Selvaraju commented:
“We utilize a discounted cash flow-based risk- adjusted net present value (rNPV) approach in assessing Intec, which deploys a 12% discount rate and 85% probability of success to yield a projected value of $430M. This translates into a price per share of $16.00, assuming roughly 33M shares outstanding as of end-2Q19.”
According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.8% and a 28.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Synergy Pharmaceuticals Inc, and Bausch Health Companies Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Intec Pharma Ltd with a $12.88 average price target, which is a 132.1% upside from current levels. In a report issued on October 22, Maxim Group also maintained a Buy rating on the stock with a $12 price target.
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Based on Intec Pharma Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.03 million. In comparison, last year the company had a GAAP net loss of $7.65 million.
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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.
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