In a recently released analyst update, H.C. Wainwright Senior Healthcare Analyst, Raghuram Selvaraju, Ph.D., reiterated his buy rating on shares of Intec Pharma Ltd. (NASDAQ:NTEC) with a price target that suggests some massive upside to come.
This update comes just days after Intec announced that the European Patent Office granted the company European Patent No. 2997953 titled, “DELIVERY DEVICE FOR ORAL INTAKE OF AN AGENT,” covering Intec’s gastro-retentive drug delivery device with perforated external film. The new European patent joins Intec Pharma’s intellectual property of the IN-3 family of patents and provides coverage until 2027.
Raghuram Selvaraju, Ph.D.’s price target of $16.00 USD per share implies a potential upside of approximately 191.44% based on the last traded price of $5.49 USD per share on the NASDAQ.
According to Selvaraju, “We utilize a discounted cash flow-based risk-adjusted net present value (rNPV) approach in assessing Intec, which deploys a 12% discount rate and 85% probability of success to yield a projected value of $640M.”
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