IntelliPharmaCeutics Intl (IPCI) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of IntelliPharmaCeutics Intl (NASDAQ:IPCI) (TSE:I) from a sell rating to a hold rating in a research note published on Tuesday 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. “

A number of other research firms have also recently commented on IPCI. HC Wainwright assumed coverage on IntelliPharmaCeutics Intl in a research note on Friday, January 19th. They set a buy rating and a $2.50 target price on the stock. Maxim Group cut IntelliPharmaCeutics Intl from a buy rating to a hold rating in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $2.53.

IntelliPharmaCeutics Intl (NASDAQ:IPCI) opened at $0.68 on Tuesday. The firm has a market capitalization of $23.49, a price-to-earnings ratio of -2.01 and a beta of 1.06. IntelliPharmaCeutics Intl has a 52 week low of $0.66 and a 52 week high of $2.92.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IPCI. Advisor Group Inc. raised its stake in shares of IntelliPharmaCeutics Intl by 57.7% during the 2nd quarter. Advisor Group Inc. now owns 47,409 shares of the company’s stock worth $100,000 after purchasing an additional 17,342 shares during the period. Armistice Capital LLC bought a new stake in shares of IntelliPharmaCeutics Intl during the 4th quarter worth $1,549,000. Finally, Sabby Management LLC bought a new stake in shares of IntelliPharmaCeutics Intl during the 4th quarter worth $867,000. Institutional investors own 3.33% 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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