Intellipharmaceutics International Inc. (NASDAQ:IPCI) Upgraded at Zacks Investment Research
Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Intellipharmaceutics International Inc. is engaged in the research, development, and commercialization of controlled-release and targeted pharmaceutical products. Its products include Effexor XR and Protonix. The Company offers products in different stages of development in therapeutic areas, including neurology, cardiovascular, and GIT. Intellipharmaceutics International Inc. was formerly known as IntelliPharmaCeutics Ltd. and is based in Toronto, Canada. “
Several other research analysts also recently commented on IPCI. ValuEngine downgraded Intellipharmaceutics International from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Maxim Group reduced their price target on Intellipharmaceutics International from $6.00 to $2.00 and set a “buy” rating on the stock in a report on Thursday, July 27th. Finally, Aegis restated a “hold” rating and set a $2.00 price target on shares of Intellipharmaceutics International in a report on Tuesday, April 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Intellipharmaceutics International presently has an average rating of “Hold” and an average price target of $3.63.
Intellipharmaceutics International (IPCI) opened at 0.8493 on Tuesday. The firm has a 50-day moving average price of $1.99 and a 200-day moving average price of $2.21. Intellipharmaceutics International has a one year low of $0.83 and a one year high of $3.35. The firm’s market cap is $25.96 million.
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Several large investors have recently bought and sold shares of the company. Advisor Group Inc. raised its stake in Intellipharmaceutics International by 57.7% in the second quarter. Advisor Group Inc. now owns 47,409 shares of the company’s stock valued at $100,000 after buying an additional 17,342 shares during the period. Argent Trust Co increased its position in shares of Intellipharmaceutics International by 52.5% in the second quarter. Argent Trust Co now owns 59,693 shares of the company’s stock valued at $125,000 after buying an additional 20,556 shares in the last quarter. Finally, First Foundation Advisors increased its position in shares of Intellipharmaceutics International by 172.1% in the first quarter. First Foundation Advisors now owns 274,592 shares of the company’s stock valued at $686,000 after buying an additional 173,692 shares in the last quarter. Hedge funds and other 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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