IntelliPharmaCeutics Intl (IPCI) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of IntelliPharmaCeutics Intl (NASDAQ:IPCI) (TSE:I) from a hold rating to a sell rating in a report released on Wednesday morning.

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. “

Separately, Mackie raised shares of IntelliPharmaCeutics Intl to a hold rating and lifted their price objective for the company from $1.00 to $3.10 in a research report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $2.40.

IntelliPharmaCeutics Intl (IPCI) opened at $0.95 on Wednesday. IntelliPharmaCeutics Intl has a 12-month low of $0.70 and a 12-month high of $3.12.

An institutional investor recently raised its position in IntelliPharmaCeutics Intl stock. Advisor Group Inc. lifted its stake in shares of IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) (TSE:I) by 57.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 47,409 shares of the company’s stock after buying an additional 17,342 shares during the quarter. Advisor Group Inc. owned about 0.16% of IntelliPharmaCeutics Intl worth $100,000 as of its most recent SEC filing. Institutional investors own 3.78% of the company’s stock.

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IntelliPharmaCeutics Intl 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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