IntelGenx Technologies (IGXT) Downgraded by Zacks Investment Research

IntelGenx Technologies (OTCMKTS:IGXT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Friday.

According to Zacks, “IntelGenx is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. The Company uses its unique multiple layer delivery system to provide zero-order release of active drugs in the gastro-intestinal tract. IntelGenx has also developed novel delivery technologies for the rapid delivery of pharmaceutically active substances in the oral cavity based on its experience with rapidly disintegrating films. The Company’s research and development pipeline includes products for the treatment of osteoarthritis pain management, hypertension and smoking cessation. “

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A number of other brokerages have also issued reports on IGXT. HC Wainwright set a $2.00 price target on IntelGenx Technologies and gave the stock a “buy” rating in a research note on Tuesday, April 3rd. ValuEngine raised IntelGenx Technologies from a “sell” rating to a “hold” rating in a research note on Friday, March 16th. Finally, Aegis reaffirmed a “buy” rating on shares of IntelGenx Technologies in a research note on Monday, January 29th.

Shares of IGXT opened at $0.70 on Friday. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 1.53. IntelGenx Technologies has a 12 month low of $0.60 and a 12 month high of $1.09. The company has a market capitalization of $44.21, a price-to-earnings ratio of -17.50 and a beta of 0.70.

IntelGenx Technologies (OTCMKTS:IGXT) last issued its quarterly earnings data on Thursday, March 29th. The company reported ($0.02) EPS for the quarter. The business had revenue of $1.50 million during the quarter, compared to analyst estimates of $1.30 million. IntelGenx Technologies had a negative net margin of 57.63% and a negative return on equity of 60.62%. research analysts anticipate that IntelGenx Technologies will post -0.1 earnings per share for the current year.

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IntelGenx Technologies Company Profile

IntelGenx Technologies Corp., a drug delivery company, develops novel oral immediate-release and controlled-release products for the pharmaceutical market. It offers RIZAPORT, an oral thin film formulation of rizatriptan benzoate for the treatment of acute migraines. The company's products under development comprise INT0001/2004, an anti-hypertension drug; INT0004/2006, an antidepressant; INT0007/2006 for the treatment of erectile dysfunction; INT0010/2006 for the treatment of neuropathic pain and nausea in cancer patients; INT0027/2011 to treat opioid dependence; INT0036/2012 for schizophrenia; and INT0043/2015 to treat mild cognitive impairment and Alzheimer's disease.

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