Intellipharmaceutics International Inc. (IPCI) Expected to Announce Quarterly Sales of $4.55 Million
Wall Street analysts expect that Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) will post $4.55 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Intellipharmaceutics International’s earnings, with estimates ranging from $3.50 million to $5.60 million. Intellipharmaceutics International reported sales of $560,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 712.5%. The business is scheduled to issue its next earnings results on Thursday, October 12th.
On average, analysts expect that Intellipharmaceutics International will report full-year sales of $4.55 million for the current year, with estimates ranging from $11.74 million to $14.60 million. For the next financial year, analysts expect that the business will post sales of $26.10 million per share, with estimates ranging from $19.90 million to $32.30 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Intellipharmaceutics International.
Several equities analysts have weighed in on the company. Maxim Group restated a “buy” rating and set a $6.00 price objective on shares of Intellipharmaceutics International in a research note on Friday, June 30th. ValuEngine upgraded Intellipharmaceutics International from a “sell” rating to a “hold” rating in a research note on Friday, May 26th. Finally, Zacks Investment Research cut Intellipharmaceutics International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $3.63.
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Shares of Intellipharmaceutics International (IPCI) traded down 4.1134% on Friday, reaching $0.9301. 121,940 shares of the company were exchanged. Intellipharmaceutics International has a 12 month low of $0.81 and a 12 month high of $3.35. The company’s market cap is $28.44 million. The company’s 50-day moving average price is $1.31 and its 200 day moving average price is $2.01.
A number of large investors have recently modified their holdings of IPCI. Advisor Group Inc. lifted its stake in Intellipharmaceutics International by 57.7% during the 2nd quarter. Advisor Group Inc. now owns 47,409 shares of the company’s stock valued at $100,000 after acquiring an additional 17,342 shares in the last quarter. Argent Trust Co raised its stake in shares of Intellipharmaceutics International by 52.5% during the 2nd quarter. Argent Trust Co now owns 59,693 shares of the company’s stock worth $125,000 after purchasing an additional 20,556 shares during the period. Finally, First Foundation Advisors raised its stake in shares of Intellipharmaceutics International by 172.1% during the 1st quarter. First Foundation Advisors now owns 274,592 shares of the company’s stock worth $686,000 after purchasing an additional 173,692 shares during the period. Institutional investors and hedge funds own 4.24% of the company’s stock.
Intellipharmaceutics International Company Profile
Intellipharmaceutics International Inc is a Canada-based pharmaceutical company engaged 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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