3 Analysts are Bullish on an Israeli Cannabinoid-Based Pharma Company

This week, three different analysts have released ‘buy’ ratings on shares of Israeli cannabinoid-based biotechnology company Intec Pharma Ltd. (NASDAQ:NTEC).

H.C. Wainwright

H.C. Wainwright’s Managing Director of Equity Research Raghuram Selvaraju just assigned a ‘buy’ rating on shares of Intec alongside a price target of $16 USD per share. With a last traded price of $4.18 USD per share, H.C. Wainwright’s price target represents approximately 182% of potential upside.

Maxim Group

Maxim Group’s Senior Managing Director Jason McCarthy, Ph.D. just assigned a ‘buy’ rating on shares of Intec alongside a price target of $12 USD per share. With a last traded price of $4.18 USD per share, Maxim Group’s price target represents approximately 87% of potential upside.

Oppenheimer

Oppenheimer’s Senior Analyst Jay Olson just assigned a ‘buy’ rating on shares of Intec alongside a price target of $15 USD per share. With a last traded price of $4.18 USD per share, Oppenheimer’s price target represents approximately 158% of potential upside.

Context

On August 15th, Intec Pharma Ltd. announced financial results for the three and six months ended June 30, 2018 and provided a corporate update. Highlights of the company’s Q2 included:

• Global enrollment reached more than 400 of the projected 420 patients into the Phase 3 ACCORDANCE clinical trial of Accordion Pill Carbidopa/Levodopa (AP-CD/LD) for the treatment of advanced Parkinson’s disease patients;
• Completed enrollment at the European and Israeli sites in the ACCORDANCE clinical trial with the balance of the study’s patients to be recruited from the trial’s U.S. clinical sites;
• More than 85% of eligible patients from the ACCORDANCE clinical trial are opting to participate in the Open Label Extension (OLE) study;
• Created a Scientific Advisory Board (SAB) comprised of internationally renowned scientists, whose mission will be to provide scientific and clinical advice on the advancement of AP-cannabinoids in various indications;
• Multiple poster presentations accepted at the upcoming International Parkinson and Movement Disorder Society (MDS) bi-annual meeting taking place October 5-9, 2018;
• Appointed Brad Hayes, former Executive Vice President, Chief Financial Officer and Treasurer of Laboratory Corporation of America (LabCorp), to the Company’s Board of Directors;
• Voluntarily filed for and completed de-listing from the Tel Aviv Stock Exchange, with NASDAQ Capital Market now the sole trading exchange; and
• Raised gross proceeds of approximately $37.5 million in an underwritten public offering of 6.75 million ordinary shares and 400,000 ordinary shares following the partial exercise of the underwriters’ over-allotment option.