Intec Pharma Ltd Initiated with a Buy at Oppenheimer

By Austin Angelo

In a report released yesterday, Jay Olson from Oppenheimer initiated coverage with a Buy rating on Intec Pharma Ltd (NASDAQ: NTEC) and a price target of $10. The company’s shares closed last Wednesday at $5.25.

Olson said:

“We are initiating coverage of NTEC with an Outperform rating and $10 price target based on a differentiated profile for its lead drug, which is in development for Parkinson’s disease (PD). We appreciate the Accordion Pill (AP) platform technology that NTEC has leveraged for use in multiple disease areas with a focus on unmet needs in neuroscience. We believe the AP provides unique features and benefits that are especially valuable to patients suffering from PD with motor symptoms.”

According to TipRanks.com, Olson is a 4-star analyst with an average return of 8.6% and a 61.1% success rate. Olson covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, CymaBay Therapeutics, and Intercept Pharma.

Intec Pharma Ltd has an analyst consensus of Moderate Buy, with a price target consensus of $9.50.

Based on Intec Pharma Ltd’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $0 and GAAP net loss of $2.01 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $2.98 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.,09JZQL-E