Intellipharmaceutics International Inc. (IPCI) Sees Large Volume Increase
Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) saw unusually-strong trading volume on Friday . Approximately 203,878 shares traded hands during mid-day trading, a decline of 52% from the previous session’s volume of 423,728 shares.The stock last traded at $1.11 and had previously closed at $1.11.
Several research analysts recently commented on IPCI shares. Maxim Group reaffirmed a “buy” rating and issued a $6.00 price target on shares of Intellipharmaceutics International in a research note on Friday, June 30th. ValuEngine downgraded shares of Intellipharmaceutics International from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Mackie raised shares of Intellipharmaceutics International to a “hold” rating and raised their price target for the stock from $1.00 to $3.10 in a research note on Tuesday, September 26th. Finally, Zacks Investment Research downgraded shares of Intellipharmaceutics International from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $3.78.
The company’s 50-day moving average price is $0.98 and its 200-day moving average price is $1.78. The firm’s market cap is $33.93 million.
A hedge fund recently raised its stake in Intellipharmaceutics International stock. Advisor Group Inc. raised its stake in Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) by 57.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,409 shares of the company’s stock after buying an additional 17,342 shares during the quarter. Advisor Group Inc. owned about 0.16% of Intellipharmaceutics International worth $100,000 at the end of the most recent quarter. 4.24% of the stock is owned by institutional investors.
About Intellipharmaceutics International
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.
Receive News & Stock Ratings for Intellipharmaceutics International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intellipharmaceutics International Inc. and related stocks with our FREE daily email newsletter.