ValuEngine cut shares of Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) from a hold rating to a sell rating in a research note issued to investors on Friday.

A number of other research analysts have also recently weighed in on IPCI. Maxim Group reaffirmed a buy rating and set a $6.00 price target on shares of Intellipharmaceutics International in a research report on Wednesday, April 12th. Aegis cut shares of Intellipharmaceutics International from a buy rating to a hold rating and reduced their price target for the company from $8.00 to $2.00 in a research report on Wednesday, April 12th. Finally, Zacks Investment Research raised shares of Intellipharmaceutics International from a hold rating to a buy rating and set a $2.50 price target on the stock in a research report on Monday, April 17th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Intellipharmaceutics International presently has an average rating of Hold and an average price target of $3.63.

Shares of Intellipharmaceutics International (NASDAQ:IPCI) opened at 1.2701 on Friday. Intellipharmaceutics International has a 12-month low of $1.19 and a 12-month high of $3.35. The firm’s 50-day moving average is $2.29 and its 200-day moving average is $2.32. The firm’s market capitalization is $38.83 million.

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An institutional investor recently raised its position in Intellipharmaceutics International stock. First Foundation Advisors boosted its position in Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) by 172.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 274,592 shares of the company’s stock after buying an additional 173,692 shares during the period. First Foundation Advisors owned about 0.90% of Intellipharmaceutics International worth $686,000 at the end of the most recent reporting period. Institutional investors own 3.86% of the company’s stock.

Intellipharmaceutics International Company Profile

Intellipharmaceutics International Inc is a Canada-based pharmaceutical company engaged in the research, development and manufacture of controlled-release and targeted-release oral solid dosage drugs. Its Hypermatrix technology is a multidimensional controlled-release drug delivery platform that is applied to the development of a range of existing and new pharmaceuticals.

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