BTIG Research Reaffirms “Buy” Rating for Neonc Technologies (NASDAQ:NTHI)

Neonc Technologies (NASDAQ:NTHI)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a note issued to investors on Tuesday, Benzinga reports. They presently have a $15.00 target price on the stock. BTIG Research’s price target indicates a potential upside of 198.21% from the company’s previous close.

Several other analysts have also recently issued reports on NTHI. Maxim Group assumed coverage on shares of Neonc Technologies in a research note on Monday, May 18th. They issued a “buy” rating and a $20.00 target price on the stock. Weiss Ratings raised shares of Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 31st. Wall Street Zen downgraded Neonc Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Alliance Global Partners started coverage on Neonc Technologies in a research note on Tuesday, May 19th. They set a “buy” rating and a $13.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.00.

Neonc Technologies Stock Performance

Shares of NASDAQ NTHI opened at $5.03 on Tuesday. Neonc Technologies has a fifty-two week low of $3.01 and a fifty-two week high of $12.99. The stock has a fifty day moving average of $4.13 and a 200-day moving average of $5.52.

Neonc Technologies (NASDAQ:NTHI) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.46).

Insider Transactions at Neonc Technologies

In other news, CEO Thomas C. Chen purchased 12,757 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was purchased at an average price of $5.49 per share, with a total value of $70,035.93. Following the completion of the purchase, the chief executive officer directly owned 13,705 shares in the company, valued at approximately $75,240.45. This trade represents a 1,345.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Amir F. Heshmatpour purchased 9,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $5.54 per share, with a total value of $49,860.00. Following the purchase, the chief executive officer owned 3,096,000 shares of the company’s stock, valued at approximately $17,151,840. The trade was a 0.29% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 36,757 shares of company stock worth $178,486 in the last 90 days.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Barclays PLC lifted its holdings in shares of Neonc Technologies by 5,314.8% in the 4th quarter. Barclays PLC now owns 9,151 shares of the company’s stock worth $76,000 after acquiring an additional 8,982 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Neonc Technologies during the 4th quarter valued at $124,000. OMERS ADMINISTRATION Corp purchased a new position in Neonc Technologies in the 4th quarter worth $126,000. Global Retirement Partners LLC purchased a new position in Neonc Technologies in the 2nd quarter worth $126,000. Finally, Royal Bank of Canada bought a new stake in Neonc Technologies in the first quarter worth $247,000.

About Neonc Technologies

Neonc Technologies Holdings, Inc develops novel molecular technology that provides enhanced targeted delivery of technologies for treating central nervous system diseases. Its lead products in development include NEO100, which is in Phase 2a clinical trials for treating glioblastoma; and NEO212, a covalently conjugated molecule combining the chemotherapeutic drug temozolomide with perillyl alcohol that is completed preclinical testing. The company was incorporated in 2023 and is based in Los Angeles, California.