Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
Several other research analysts have also recently weighed in on the stock. Maxim Group reissued a “buy” rating and set a $6.00 price objective on shares of Intellipharmaceutics International in a report on Friday, June 30th. Zacks Investment Research raised shares of Intellipharmaceutics International from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a report on Monday, April 17th. Finally, Aegis cut shares of Intellipharmaceutics International from a “buy” rating to a “hold” rating and decreased their price objective for the company from $8.00 to $2.00 in a report on Wednesday, April 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Intellipharmaceutics International currently has a consensus rating of “Hold” and an average price target of $3.63.
Shares of Intellipharmaceutics International (NASDAQ:IPCI) opened at 1.36 on Friday. The firm’s market cap is $41.58 million. Intellipharmaceutics International has a 12-month low of $1.30 and a 12-month high of $3.35. The company has a 50 day moving average of $2.33 and a 200-day moving average of $2.34.
An institutional investor recently raised its position in Intellipharmaceutics International stock. First Foundation Advisors raised its stake in shares of Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) by 172.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period. 3.86% of the stock is currently owned by institutional investors.
Intellipharmaceutics International Company Profile
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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