Intellipharmaceutics International Inc. (NASDAQ:IPCI) Rating Lowered to Sell at Zacks Investment Research
Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.
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 analysts have also recently issued reports about the company. Maxim Group reiterated a “buy” rating and set a $6.00 price target on shares of Intellipharmaceutics International in a research report on Tuesday, April 18th. ValuEngine upgraded Intellipharmaceutics International from a “sell” rating to a “hold” rating in a research report on Friday, May 26th. Finally, Aegis reiterated a “hold” rating and set a $2.00 price target on shares of Intellipharmaceutics International in a research report on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Intellipharmaceutics International has a consensus rating of “Hold” and an average price target of $4.63.
Intellipharmaceutics International (NASDAQ:IPCI) traded down 1.09% on Friday, hitting $2.65. 144,857 shares of the company were exchanged. Intellipharmaceutics International has a 52-week low of $1.53 and a 52-week high of $3.35. The stock’s 50-day moving average price is $2.06 and its 200-day moving average price is $2.39. The stock’s market capitalization is $81.02 million.
A hedge fund recently raised its stake in Intellipharmaceutics International stock. First Foundation Advisors boosted its stake in Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) by 172.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 274,592 shares of the company’s stock after buying an additional 173,692 shares during the period. First Foundation Advisors owned about 0.90% of Intellipharmaceutics International worth $686,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 3.36% of the company’s stock.
About Intellipharmaceutics International
Intellipharmaceutics International Inc is a Canada-based pharmaceutical company engaged 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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