Intellipharmaceutics International Inc. (NASDAQ:IPCI) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $3.00 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 12.36% from the company’s current price.

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. “

A number of other equities research analysts also recently weighed in on IPCI. Brean Capital restated a “buy” rating and set a $8.00 target price on shares of Intellipharmaceutics International in a research report on Tuesday, July 5th. Maxim Group reaffirmed a “buy” rating on shares of Intellipharmaceutics International in a research note on Friday, July 22nd.

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Shares of Intellipharmaceutics International (NASDAQ:IPCI) traded down 2.91% during midday trading on Tuesday, reaching $2.67. The company had a trading volume of 336,514 shares. The company’s 50-day moving average is $2.14 and its 200-day moving average is $1.87. Intellipharmaceutics International has a 52-week low of $1.41 and a 52-week high of $3.33. The firm’s market cap is $76.75 million.

Intellipharmaceutics International (NASDAQ:IPCI) last released its earnings results on Friday, October 14th. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). Intellipharmaceutics International had a negative return on equity of 832.00% and a negative net margin of 371.11%. Equities research analysts expect that Intellipharmaceutics International will post ($0.28) EPS for the current fiscal year.

An institutional investor recently raised its position in Intellipharmaceutics International stock. Atria Investments LLC increased its position in Intellipharmaceutics International Inc. (NASDAQ:IPCI) by 12.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 75,895 shares of the company’s stock after buying an additional 8,168 shares during the period. Atria Investments LLC owned about 0.26% of Intellipharmaceutics International worth $159,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 1.34% of the company’s stock.

Intellipharmaceutics International Company Profile

IntelliPharmaCeutics International Inc is a Canada-based pharmaceutical company specializing 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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