Intellipharmaceutics International Inc. (IPCI) Given a $6.00 Price Target by Maxim Group Analysts
Intellipharmaceutics International Inc. (NASDAQ:IPCI) has been given a $6.00 target price by stock analysts at Maxim Group in a research report issued to clients and investors on Thursday. The brokerage presently has a a “buy” rating on the stock. Maxim Group’s target price would indicate a potential upside of 167.74% from the company’s current price.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised Intellipharmaceutics International from a “hold” rating to a “buy” rating and set a $1.75 target price for the company in a research report on Tuesday, June 21st. Brean Capital reaffirmed a “buy” rating and set a $8.00 price objective on shares of Intellipharmaceutics International in a research report on Tuesday, July 5th.
Intellipharmaceutics International (NASDAQ:IPCI) traded up 5.76% during mid-day trading on Thursday, hitting $2.37. The stock had a trading volume of 370,438 shares. The stock has a 50-day moving average price of $1.93 and a 200 day moving average price of $1.83. The firm’s market cap is $68.13 million. Intellipharmaceutics International has a 12-month low of $1.41 and a 12-month high of $3.19.
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Intellipharmaceutics International (NASDAQ:IPCI) last announced its earnings results on Wednesday, July 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Intellipharmaceutics International had a negative return on equity of 832.00% and a negative net margin of 325.20%. Equities analysts anticipate that Intellipharmaceutics International will post ($0.28) EPS for the current fiscal year.
An institutional investor recently bought a new position in Intellipharmaceutics International stock. Atria Investments LLC bought a new position in Intellipharmaceutics International Inc. (NASDAQ:IPCI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 67,727 shares of the company’s stock, valued at approximately $106,000. Atria Investments LLC owned 0.27% of Intellipharmaceutics International at the end of the most recent reporting period. 1.30% of the stock is owned by institutional investors and hedge funds.
Intellipharmaceutics International Company Profile
Intellipharmaceutics International Inc is a pharmaceutical company specializing in the research, development and manufacture of controlled-release and targeted-release oral solid dosage drugs. The Company’s 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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