Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) had its price objective lowered by Maxim Group from $6.00 to $2.00 in a research report report published on Thursday morning, reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on IPCI. Aegis reaffirmed a hold rating and set a $2.00 price target on shares of Intellipharmaceutics International in a report on Tuesday, April 18th. Zacks Investment Research cut Intellipharmaceutics International from a hold rating to a sell rating in a report on Friday, July 14th. Finally, ValuEngine raised Intellipharmaceutics International from a sell rating to a hold rating in a report 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 assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $3.63.

Shares of Intellipharmaceutics International (NASDAQ IPCI) traded down 9.9220% during trading on Thursday, hitting $1.2701. The stock had a trading volume of 587,839 shares. The firm’s market cap is $38.83 million. Intellipharmaceutics International has a one year low of $1.19 and a one year high of $3.35. The firm’s 50-day moving average is $2.31 and its 200-day moving average is $2.33.

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A hedge fund recently raised its stake in Intellipharmaceutics International stock. First Foundation Advisors raised its position in shares of Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) by 172.1% during the first quarter, according to its most recent filing with the SEC. The fund 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. Hedge funds and other institutional investors own 3.86% of the company’s stock.

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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