Intec Pharma Ltd (NASDAQ:NTEC) stock price target has been raised by Oppenheimer to $15.00 from $10.00 while maintaining the Outperform rating. The analyst Jay Olson has noted that the shares are up 60% since June and expects further upside as Accordion resonates with investors. Further the analyst Olson noted the clinical and operational progress that is being made under the leadership of new management, apart from an increasingly favorable regulatory and deal-making environment, especially for companies involved in neuroscience. The analyst is optimistic about the prospects for NTEC’s clinical assets that rely on the Accordion Pill (AP) platform, which is AP-CD/LD for Parkinson’s disease (PD) and AP-CBD/THC for chronic pain.

Moreover, the company’s product pipeline includes four product candidates in clinical trial stages: Accordion Pill Carbidopa/Levodopa, Accordion Pill Zaleplon, that 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. AP-CBD/THC 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.

Furthermore, NTEC had raised $57.5 million from a public offering that the company has planned to use to fund further clinical trials of a product that could improve the treatment of symptoms of advanced Parkinson’s disease. NTEC had closed its latest offering of 12.2 million shares at $4.70, including a full exercise of the underwriters’ overallotment option. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC in New York represented the underwriters, that included Oppenheimer & Co. Inc. acting as the sole book-running manager, Roth Capital Partners acting as lead manager, and Maxim Group LLC acting as co-manager in the offering. The offering on the NASDAQ was a significant transaction for the Israeli company, which was also represented by Greenberg Traurig in its 2015 initial public offering. The company intends to have a greater U.S. presence, with new CEO Jeffrey A. Meckler and board chairman Dr. John W. Kozarich based in the U.S.