IntelliPharmaCeutics Intl (IPCI) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of IntelliPharmaCeutics Intl (NASDAQ:IPCI) (TSE:I) from a sell rating to a hold rating in a research note released on Tuesday morning.
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 firms also recently commented on IPCI. Maxim Group reissued a hold rating and issued a $8.00 target price on shares of IntelliPharmaCeutics Intl in a report on Friday, June 15th. HC Wainwright set a $3.00 target price on shares of IntelliPharmaCeutics Intl and gave the stock a buy rating in a report on Tuesday, May 29th. Finally, ValuEngine raised shares of IntelliPharmaCeutics Intl from a sell rating to a hold rating in a report on Saturday, June 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. IntelliPharmaCeutics Intl presently has an average rating of Hold and a consensus target price of $3.65.
IntelliPharmaCeutics Intl (NASDAQ:IPCI) (TSE:I) last released its earnings results on Monday, July 16th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $0.58 million during the quarter, compared to analysts’ expectations of $0.90 million. equities analysts forecast that IntelliPharmaCeutics Intl will post -0.2 earnings per share for the current year.
An institutional investor recently bought a new position in IntelliPharmaCeutics Intl stock. Anson Funds Management LP bought a new position in IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) (TSE:I) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,128,720 shares of the company’s stock, valued at approximately $1,210,000. IntelliPharmaCeutics Intl makes up about 0.9% of Anson Funds Management LP’s holdings, making the stock its 17th biggest holding. Anson Funds Management LP owned approximately 4.89% of IntelliPharmaCeutics Intl at the end of the most recent reporting period. Institutional investors own 20.52% of the company’s stock.
IntelliPharmaCeutics Intl Company Profile
IntelliPharmaCeutics International Inc, a pharmaceutical company, researches, develops, and manufactures novel and generic controlled-release and targeted-release oral solid dosage drugs in Canada. It develops various drug delivery systems and a pipeline of products based on its patented Hypermatrix technology in therapeutic areas, including neurology, cardiovascular, gastrointestinal tract, diabetes, and pain.
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