Intellipharmaceutics International Inc. (IPCI) Receives “Buy” Rating from Aegis
Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I)‘s stock had its “buy” rating reaffirmed by stock analysts at Aegis in a research report issued to clients and investors on Thursday.
A number of other equities research analysts have also issued reports on the company. Maxim Group set a $6.00 target price on Intellipharmaceutics International and gave the company a “buy” rating in a research report on Friday. Zacks Investment Research lowered Intellipharmaceutics International from a “buy” rating to a “hold” rating in a research report on Thursday, October 27th. Finally, Brean Capital set a $8.00 target price on Intellipharmaceutics International and gave the company a “buy” rating in a research report on Monday, October 17th.
Intellipharmaceutics International (NASDAQ:IPCI) traded down 3.00% during midday trading on Thursday, hitting $2.91. The stock had a trading volume of 186,522 shares. Intellipharmaceutics International has a 1-year low of $1.41 and a 1-year high of $3.35. The firm’s market capitalization is $84.29 million. The firm has a 50-day moving average price of $2.87 and a 200-day moving average price of $2.04.
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An institutional investor recently raised its position in Intellipharmaceutics International stock. Morgan Stanley increased its stake in Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,900 shares of the company’s stock after buying an additional 2,500 shares during the period. Morgan Stanley owned about 0.21% of Intellipharmaceutics International worth $130,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 1.68% of the company’s stock.
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.
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