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IGI Laboratories (NYSE:IG) major shareholder Sciences Opportunities Fu Life unloaded 2,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $6.45, for a total value of $12,900,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

IG has been the subject of a number of recent research reports. Analysts at Oppenheimer initiated coverage on shares of IGI Laboratories in a research note on Thursday, August 28th. They set an “outperform” rating and a $8.00 price target on the stock. 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.

IGI Laboratories (NYSE:IG) traded down 2.04% on Thursday, hitting $6.73. 262,066 shares of the company’s stock traded hands. IGI Laboratories has a one year low of $1.80 and a one year high of $7.13. The stock’s 50-day moving average is $5.91 and its 200-day moving average is $5.24. The company’s market cap is $353.2 million.

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. Analysts expect that IGI Laboratories will post $0.01 EPS 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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