IGI Laboratories Now Covered by Analysts at Oppenheimer (IG)
Investment analysts at Oppenheimer started coverage on shares of IGI Laboratories (NYSE:IG) in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $8.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 24.61% from the company’s current price.
Separately, analysts at Zacks downgraded shares of IGI Laboratories from a “neutral” rating to an “underperform” rating in a research note on Monday, July 28th. They now have a $5.00 price target on the stock.
In other IGI Laboratories news, Director James C. Gale acquired 5,000 shares of the company’s stock on the open market in a transaction dated Friday, August 22nd. The stock was purchased at an average cost of $5.90 per share, for a total transaction of $29,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
IGI Laboratories (NYSE:IG) traded up 4.98% during mid-day trading on Thursday, hitting $6.74. The stock had a trading volume of 269,432 shares. IGI Laboratories has a 1-year low of $1.80 and a 1-year high of $6.68. The stock has a 50-day moving average of $5.73 and a 200-day moving average of $5.13. The company’s market cap is $353.7 million. IGI Laboratories also saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 1,880,437 shares, a growth of 21.3% from the July 31st total of 1,550,473 shares. Based on an average daily trading volume, of 766,385 shares, the days-to-cover ratio is presently 2.5 days. Currently, 7.0% of the company’s shares are short sold.
IGI Laboratories (NYSE:IG) last announced its earnings results on Thursday, July 24th. The company reported ($0.01) earnings per share (EPS) for the quarter. On average, analysts predict that IGI Laboratories will post $0.01 earnings per share for the current fiscal year.
IGI Laboratories, Inc (NYSE:IG) develops, manufactures, fills and packs topical semi-solid and liquid products for cosmetic, cosmeceutical and pharmaceutical customers.
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