In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Intec Pharma Ltd (NTEC), with a price target of $12. The company’s shares opened today at $5.95.
McCarthy commented:
“Intec reported 3Q18 with a net loss of ($9.2M) and ended the quarter with $54.5M in cash on the balance sheet, sufficient runway at the current burn rate into 2H19 and through the pivotal P3 data.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 5.3% and a 40.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals 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.
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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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