Intellipharmaceutics International Inc. (IPCI) Given a $6.00 Price Target by Maxim Group Analysts
Intellipharmaceutics International Inc. (NASDAQ:IPCI) received a $6.00 price objective from equities researchers at Maxim Group in a research report issued on Thursday. The firm currently has a a “buy” rating on the stock. Maxim Group’s price target suggests a potential upside of 167.74% from the stock’s previous close.
IPCI has been the topic of a number of other research reports. Zacks Investment Research raised Intellipharmaceutics International from a “hold” rating to a “buy” rating and set a $1.50 price objective on the stock in a research report on Wednesday, June 15th. Brean Capital reaffirmed a “buy” rating and set a $8.00 price objective on shares of Intellipharmaceutics International in a research report on Tuesday, July 5th.
Intellipharmaceutics International (NASDAQ:IPCI) traded up 5.76% during midday trading on Thursday, hitting $2.37. 370,438 shares of the stock traded hands. The stock’s market cap is $68.13 million. The company has a 50-day moving average of $1.93 and a 200-day moving average of $1.83. Intellipharmaceutics International has a 12 month low of $1.41 and a 12 month high of $3.19.
Intellipharmaceutics International (NASDAQ:IPCI) last issued its quarterly earnings data on Wednesday, July 13th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Intellipharmaceutics International had a negative return on equity of 832.00% and a negative net margin of 325.20%. On average, equities research analysts anticipate that Intellipharmaceutics International will post ($0.28) earnings per share for the current year.
An institutional investor recently bought a new position in Intellipharmaceutics International stock. Atria Investments LLC purchased a new stake in shares of Intellipharmaceutics International Inc. (NASDAQ:IPCI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 67,727 shares of the company’s stock, valued at approximately $106,000. Atria Investments LLC owned approximately 0.27% of Intellipharmaceutics International at the end of the most recent quarter. 1.30% of the stock is currently owned by hedge funds and other institutional investors.
Intellipharmaceutics International Company Profile
Intellipharmaceutics International Inc is a pharmaceutical company specializing in the research, development and manufacture of controlled-release and targeted-release oral solid dosage drugs. The Company’s 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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