Brean Capital set a $8.00 target price on Intellipharmaceutics International Inc. (NASDAQ:IPCI) in a research report sent to investors on Monday. The brokerage currently has a a buy rating on the stock.

IPCI has been the topic of several other research reports. Zacks Investment Research raised Intellipharmaceutics International from a hold rating to a buy rating and set a $1.50 price target on the stock in a research report on Wednesday, June 15th. Maxim Group set a $6.00 price target on Intellipharmaceutics International and gave the stock a buy rating in a research report on Thursday, October 6th.

Shares of Intellipharmaceutics International (NASDAQ:IPCI) traded down 7.39% on Monday, reaching $2.63. The company had a trading volume of 874,626 shares. The company’s 50-day moving average price is $1.97 and its 200-day moving average price is $1.84. Intellipharmaceutics International has a 52-week low of $1.41 and a 52-week high of $3.19. The firm’s market capitalization is $75.60 million.

Intellipharmaceutics International (NASDAQ:IPCI) last announced its earnings results on Wednesday, July 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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, analysts predict that Intellipharmaceutics International will post ($0.28) earnings per share for the current year.

A hedge fund recently bought a new stake in Intellipharmaceutics International stock. Atria Investments LLC bought a new position in Intellipharmaceutics International Inc. (NASDAQ:IPCI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 67,727 shares of the company’s stock, valued at approximately $106,000. Atria Investments LLC owned about 0.27% of Intellipharmaceutics International at the end of the most recent reporting period. Institutional investors own 1.30% of the company’s stock.

About Intellipharmaceutics International

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.

5 Day Chart for NASDAQ:IPCI

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