IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) (TSE:I) dropped 7% during trading on Wednesday . The stock traded as low as $0.42 and last traded at $0.40. Approximately 147,434 shares changed hands during trading, a decline of 57% from the average daily volume of 343,572 shares. The stock had previously closed at $0.43.
IPCI has been the subject of several research reports. Zacks Investment Research upgraded shares of IntelliPharmaCeutics Intl from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. HC Wainwright initiated coverage on shares of IntelliPharmaCeutics Intl in a research note on Friday, January 19th. They set a “buy” rating and a $2.50 price objective for the company. Finally, Maxim Group set a $2.00 price objective on shares of IntelliPharmaCeutics Intl and gave the stock a “buy” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $2.15.
The company has a market capitalization of $23.36, a P/E ratio of -1.40 and a beta of 1.29.
IntelliPharmaCeutics Intl (NASDAQ:IPCI) (TSE:I) last posted its earnings results on Friday, February 16th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The business had revenue of $1.08 million for the quarter, compared to analyst estimates of $1.32 million. IntelliPharmaCeutics Intl had a negative net margin of 217.52% and a negative return on equity of 2,811.75%. analysts anticipate that IntelliPharmaCeutics Intl Inc will post -0.1 earnings per share for the current fiscal year.
An institutional investor recently bought a new position in IntelliPharmaCeutics Intl stock. Sabby Management LLC acquired a new stake in IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) (TSE:I) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,083,637 shares of the company’s stock, valued at approximately $867,000. Sabby Management LLC owned approximately 3.49% of IntelliPharmaCeutics Intl as of its most recent filing with the Securities and Exchange Commission (SEC). 9.02% of the stock is owned by institutional investors.
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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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