Intellipharmaceutics International Inc. (NASDAQ:IPCI) has been given a $8.00 price objective by equities researchers at Brean Capital in a note issued to investors on Monday. The brokerage presently has a a “buy” rating on the stock. Brean Capital’s target price indicates a potential upside of 179.72% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Maxim Group set a $6.00 price target on Intellipharmaceutics International and gave the company a “buy” rating in a report on Saturday. Zacks Investment Research raised Intellipharmaceutics International from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a research note on Tuesday, September 13th.

Shares of Intellipharmaceutics International (NASDAQ:IPCI) traded down 5.24% during midday trading on Monday, hitting $2.71. The company had a trading volume of 266,044 shares. Intellipharmaceutics International has a 12-month low of $1.41 and a 12-month high of $3.33. The firm’s 50-day moving average is $2.09 and its 200-day moving average is $1.87. The firm’s market capitalization is $77.90 million.

Intellipharmaceutics International (NASDAQ:IPCI) last posted its quarterly earnings results on Friday, October 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Intellipharmaceutics International had a negative return on equity of 832.00% and a negative net margin of 371.11%. On average, analysts predict 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 position in Intellipharmaceutics International Inc. (NASDAQ:IPCI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 quarter. 1.34% of the stock is owned by institutional investors.

About Intellipharmaceutics International

IntelliPharmaCeutics International Inc is a Canada-based pharmaceutical company specializing 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.

5 Day Chart for NASDAQ:IPCI

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