Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $1.01 and last traded at $1.01, with a volume of 446,236 shares changing hands. The stock had previously closed at $1.14.

IPCI has been the subject of several analyst reports. Maxim Group reissued a “buy” rating and issued a $6.00 target price on shares of Intellipharmaceutics International in a research note on Wednesday, April 12th. Aegis cut shares of Intellipharmaceutics International from a “buy” rating to a “hold” rating and decreased their target price for the company from $8.00 to $2.00 in a research note on Wednesday, April 12th. Zacks Investment Research raised shares of Intellipharmaceutics International from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a research note on Monday, April 17th. Finally, ValuEngine raised shares of Intellipharmaceutics International from a “sell” rating to a “hold” rating in a research note on Friday, May 26th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $3.63.

The stock’s market capitalization is $30.42 million. The firm’s 50-day moving average is $2.19 and its 200-day moving average is $2.29.

An institutional investor recently raised its position in Intellipharmaceutics International stock. First Foundation Advisors increased its stake in Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) by 172.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 0.90% of Intellipharmaceutics International worth $686,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 3.86% of the company’s stock.

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About Intellipharmaceutics International

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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