Oppenheimer Reaffirms Their Buy Rating on Intec Pharma Ltd

By Jason Carr

Oppenheimer analyst Jay Olson maintained a Buy rating on Intec Pharma Ltd (NASDAQ: NTEC) today and set a price target of $15. The company’s shares closed yesterday at $8.50.

Olson observed:

“We met with management and came away with a number of key takeaways leaving us incrementally more optimistic in our outlook for NTEC. We are encouraged by our discussion with new CEO Jeff Meckler and his vision for the Accordion Pill (AP) as a platform to unlock significant value for shareholders beyond the current opportunity in Parkinson’s disease (PD). Management is currently focused on three key priorities: 1) executing the Ph3 trial for AP-CD/LD in PD, 2) establishing reliable high quality US-based manufacturing capabilities and 3) pursuing business development opportunities outside of PD. We are impressed by management’s plans and maintain our Outperform rating for NTEC with a $15 price target.”

According to TipRanks.com, Olson is a 1-star analyst with an average return of -0.3% and a 45.8% success rate. Olson covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, CymaBay Therapeutics, and Intercept Pharma.

Currently, the analyst consensus on Intec Pharma Ltd is Moderate Buy and the average price target is $12.25, representing a 44.1% upside.

In a report issued on October 2, Roth Capital also reiterated a Buy rating on the stock with a $9.50 price target.

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 $6.52 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $2.01 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.