Intellipharmaceutics International Inc. (NASDAQ:IPCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

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. “

Other research analysts have also recently issued research reports about the stock. Brean Capital reissued a “buy” rating and set a $8.00 price target on shares of Intellipharmaceutics International in a research report on Tuesday, July 5th. Maxim Group reissued a “buy” rating on shares of Intellipharmaceutics International in a research report on Friday, July 22nd.

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Shares of Intellipharmaceutics International (NASDAQ:IPCI) traded down 2.68% during trading on Thursday, hitting $2.90. 766,604 shares of the company were exchanged. The firm’s market capitalization is $83.37 million. The firm’s 50-day moving average price is $2.06 and its 200 day moving average price is $1.86. Intellipharmaceutics International has a 12 month low of $1.41 and a 12 month high of $3.33.

Intellipharmaceutics International (NASDAQ:IPCI) last released its earnings results on Wednesday, July 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. Intellipharmaceutics International had a negative net margin of 325.20% and a negative return on equity of 832.00%. On average, equities research analysts expect that Intellipharmaceutics International will post ($0.28) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Intellipharmaceutics International stock. Atria Investments LLC boosted its stake in shares of Intellipharmaceutics International Inc. (NASDAQ:IPCI) by 12.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,895 shares of the company’s stock after buying an additional 8,168 shares during the period. Atria Investments LLC owned approximately 0.26% of Intellipharmaceutics International worth $159,000 as of its most recent SEC filing. Institutional investors and hedge funds own 1.30% of the company’s stock.

About Intellipharmaceutics International

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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