Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) was upgraded by Mackie to a “hold” rating in a research note issued on Tuesday. The firm presently has a $3.10 target price on the stock, up from their previous target price of $1.00. Mackie’s price target suggests a potential upside of 206.93% from the company’s current price.

Several other analysts also recently weighed in on the company. Maxim Group reissued a “buy” rating and issued a $6.00 target price on shares of Intellipharmaceutics International in a report on Friday, June 30th. ValuEngine downgraded Intellipharmaceutics International from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, Zacks Investment Research downgraded Intellipharmaceutics International from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $3.52.

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A hedge fund recently raised its stake in Intellipharmaceutics International stock. Advisor Group Inc. raised its stake in shares of Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) by 57.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,409 shares of the company’s stock after acquiring an additional 17,342 shares during the period. Advisor Group Inc. owned approximately 0.16% of Intellipharmaceutics International worth $100,000 as of its most recent SEC filing. 4.24% of the stock is owned by institutional investors and hedge funds.

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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