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.

WARNING: This article was first posted by American Banking News and is the property of of American Banking News. If you are viewing this article on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this article can be accessed at

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.

Get a free copy of the Zacks research report on Intellipharmaceutics International (IPCI)

For more information about research offerings from Zacks Investment Research, visit

Receive News & Ratings for Intellipharmaceutics International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intellipharmaceutics International Inc. and related companies with's FREE daily email newsletter.