Oppenheimer analyst Jay Olson maintained a Buy rating on Intec Pharma Ltd (NTEC) today and set a price target of $15. The company’s shares opened today at $7.84, close to its 52-week high of $8.08.
“NTEC announced plans to advance the Accordion Pill (AP) collaboration with Novartis for a proprietary compound. This program has successfully achieved in vitro specifications and will progress to a clinical PK study in 1H19 under the previously announced Feasibility and Option agreement. Details of the therapeutic area and specific compound are not disclosed. The AP combines immediate- and controlled- release profiles, providing flexibility to optimize a wide range of therapeutics by using biodegradable polymeric films folded into an undulated shape and placed inside a capsule (Exhibit 1). We are encouraged by the progress with Novartis which we believe provides external validation and optionality for the AP technology. We maintain our Outperform rating and $15 PT with details inside.”
According to TipRanks.com, Olson has 0 stars on 0-5 star ranking scale with an average return of -7.9% and a 34.3% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
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 September 30, the company reported a quarterly GAAP net loss of $9.18 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.