Intellipharmaceutics International Inc. (IPCI) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Intellipharmaceutics International Inc. (NASDAQ:IPCI) from a sell rating to a buy rating in a research report released on Tuesday. Zacks Investment Research currently has $3.00 price target on the stock.

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 research analysts have also recently commented on IPCI. Maxim Group set a $6.00 price objective on Intellipharmaceutics International and gave the company a buy rating in a report on Saturday. Brean Capital reiterated a buy rating and issued a $8.00 price objective on shares of Intellipharmaceutics International in a report on Tuesday, July 5th.

Intellipharmaceutics International (NASDAQ:IPCI) opened at 2.67 on Tuesday. The firm’s 50-day moving average price is $2.14 and its 200 day moving average price is $1.87. The stock’s market capitalization is $76.75 million. Intellipharmaceutics International has a 12-month low of $1.41 and a 12-month high of $3.33.

Intellipharmaceutics International (NASDAQ:IPCI) last posted its quarterly earnings results on Friday, October 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting 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%. On average, equities analysts anticipate that Intellipharmaceutics International will post ($0.28) EPS for the current year.

An institutional investor recently raised its position in Intellipharmaceutics International stock. Atria Investments LLC boosted its position in Intellipharmaceutics International Inc. (NASDAQ:IPCI) by 12.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm 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 at the end of the most recent reporting period. 1.34% of the stock is owned by hedge funds and other institutional investors.

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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