Brean Capital began coverage on shares of Intellipharmaceutics International Inc. (NASDAQ:IPCI) in a research note issued on Monday, StockTargetPrices.com reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. Brean Capital’s target price would indicate a potential upside of 280.95% from the company’s previous close.
A number of other research firms have also commented on IPCI. Zacks Investment Research upgraded shares of Intellipharmaceutics International from a “hold” rating to a “buy” rating and set a $1.75 price objective on the stock in a research note on Tuesday, June 21st. Maxim Group reiterated a “buy” rating on shares of Intellipharmaceutics International in a research note on Friday, July 22nd.
Intellipharmaceutics International (NASDAQ:IPCI) remained flat at $2.10 during mid-day trading on Monday. 20,631 shares of the stock were exchanged. The company’s 50-day moving average is $1.89 and its 200-day moving average is $1.83. Intellipharmaceutics International has a one year low of $1.41 and a one year high of $3.19. The company’s market capitalization is $60.37 million.
Intellipharmaceutics International (NASDAQ:IPCI) last posted its quarterly earnings data on Wednesday, July 13th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Intellipharmaceutics International had a negative net margin of 325.20% and a negative return on equity of 832.00%. Equities analysts forecast that Intellipharmaceutics International will post ($0.28) earnings per share for the current year.
A hedge fund recently bought a new stake in Intellipharmaceutics International stock. Atria Investments LLC purchased a new position in Intellipharmaceutics International Inc. (NASDAQ:IPCI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 67,727 shares of the company’s stock, valued at approximately $106,000. Atria Investments LLC owned 0.27% of Intellipharmaceutics International at the end of the most recent quarter. Hedge funds and other institutional investors 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.
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