Wall Street brokerages expect Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) to post $4.21 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Intellipharmaceutics International’s earnings, with the highest sales estimate coming in at $5.60 million and the lowest estimate coming in at $2.83 million. Intellipharmaceutics International reported sales of $560,000.00 in the same quarter last year, which indicates a positive year-over-year growth rate of 651.8%. The firm is expected to issue its next quarterly earnings report on Thursday, October 12th.
On average, analysts expect that Intellipharmaceutics International will report full-year sales of $4.21 million for the current fiscal year, with estimates ranging from $10.21 million to $14.80 million. For the next fiscal year, analysts anticipate that the firm will post sales of $32.50 million per share, with estimates ranging from $32.30 million to $32.70 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Intellipharmaceutics International.
A number of analysts recently commented on IPCI shares. Maxim Group reiterated a “buy” rating and set a $6.00 price target on shares of Intellipharmaceutics International in a report on Friday, June 30th. Aegis reissued a “hold” rating and issued a $2.00 target price on shares of Intellipharmaceutics International in a research report on Tuesday, April 18th. Zacks Investment Research downgraded Intellipharmaceutics International from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. Finally, ValuEngine downgraded Intellipharmaceutics International from a “hold” rating to a “sell” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $3.63.
An institutional investor recently raised its position in Intellipharmaceutics International stock. First Foundation Advisors boosted its position 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 Securities and Exchange Commission. The institutional investor owned 274,592 shares of the company’s stock after buying an additional 173,692 shares during the period. First Foundation Advisors owned 0.90% of Intellipharmaceutics International worth $686,000 as of its most recent SEC filing. 3.86% of the stock is owned by institutional investors.
Intellipharmaceutics International (NASDAQ IPCI) traded up 3.68% on Friday, hitting $1.41. The company had a trading volume of 950,896 shares. Intellipharmaceutics International has a one year low of $1.19 and a one year high of $3.35. The stock has a 50 day moving average of $2.33 and a 200-day moving average of $2.34. The stock’s market capitalization is $43.11 million.
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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