Zacks Investment Research cut shares of Intellipharmaceutics International Inc. (NASDAQ:IPCI) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

According to Zacks, “Intellipharmaceutics International Inc. is engaged in the research, development, and commercialization of controlled-release and targeted pharmaceutical products. Its products include Effexor XR and Protonix. The Company offers products in different stages of development in therapeutic areas, including neurology, cardiovascular, and GIT. Intellipharmaceutics International Inc. was formerly known as IntelliPharmaCeutics Ltd. and is based in Toronto, Canada. “

IPCI has been the topic of several other research reports. Brean Capital reaffirmed a buy rating and set a $8.00 price objective on shares of Intellipharmaceutics International in a research note on Tuesday, July 5th. Maxim Group set a $6.00 price objective on Intellipharmaceutics International and gave the stock a buy rating in a research note on Thursday, October 6th.

Shares of Intellipharmaceutics International (NASDAQ:IPCI) traded down 1.72% on Thursday, reaching $2.85. The company’s stock had a trading volume of 288,940 shares. The company’s market cap is $81.93 million. The company has a 50 day moving average price of $2.06 and a 200 day moving average price of $1.86. Intellipharmaceutics International has a 52-week low of $1.41 and a 52-week high of $3.33.

Intellipharmaceutics International (NASDAQ:IPCI) last posted its quarterly earnings results on Friday, October 14th. The company reported ($0.07) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.07). Intellipharmaceutics International had a negative return on equity of 832.00% and a negative net margin of 325.20%. On average, analysts anticipate that Intellipharmaceutics International will post ($0.28) earnings per share for the current fiscal year.

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