IntelGenx Technologies (IGXT) Given “Buy” Rating at Maxim Group

Maxim Group reaffirmed their buy rating on shares of IntelGenx Technologies (OTCMKTS:IGXT) in a report published on Friday. They currently have a $2.00 target price on the stock.

“IntelGenX reported 3Q18 revenue of $700K and a net loss of ($2.9M). The company ended the period with $2.2M in cash, excluding $12M raised in October in an equity offering. With current operating expenses of $3.3M, we estimate runway into late 2019.”,” the firm’s analyst wrote.

Separately, Zacks Investment Research upgraded shares of IntelGenx Technologies from a sell rating to a hold rating in a report on Wednesday, July 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $1.58.

IGXT traded down $0.02 on Friday, reaching $0.58. 450,010 shares of the company’s stock were exchanged, compared to its average volume of 768,850. The firm has a market capitalization of $46.88 million, a PE ratio of -14.39 and a beta of 1.42. IntelGenx Technologies has a twelve month low of $0.55 and a twelve month high of $1.83. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 4.56.

IntelGenx Technologies (OTCMKTS:IGXT) last posted its quarterly earnings results on Thursday, August 9th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.10 million. IntelGenx Technologies had a negative net margin of 202.88% and a negative return on equity of 214.48%. As a group, analysts predict that IntelGenx Technologies will post -0.14 earnings per share for the current fiscal year.

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 cognitive impairment and Alzheimer's disease.

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