Oppenheimer analyst Jay Olson maintained a Buy rating on Intec Pharma Ltd (NTEC) yesterday and set a price target of $15. The company’s shares closed yesterday at $5.75.
Olson commented:
“NTEC reported a 3Q update with $9.5M in net OPEX and EPS of $(0.28). We see 3Q progress as an important foundation ahead of major upcoming catalysts: PK data by YE and Ph3 ACCORDANCE data in mid-2019. NTEC executed Accordion Pill (AP) plans on several fronts. We are encouraged by completion of enrollment in the Ph3 ACCORDANCE study. NTEC appears well positioned to initiate commercial partnership discussions in 2H19 that could provide non-dilutive financing. NTEC has already partnered with a global leader in formulation and film technology for commercial scale production of FDA-compliant facility. With $55M in cash, NTEC is funded until 2020, well past Ph3 data. We update our model and reiterate Outperform with $15 PT.”
According to TipRanks.com, Olson has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.9% and a 30.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
Currently, the analyst consensus on Intec Pharma Ltd is a Strong Buy with an average price target of $12.88, which is a 124.0% upside from current levels. In a report issued on November 9, 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 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.
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