IntelliPharmaCeutics Intl (IPCI) Sees Strong Trading Volume

IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) (TSE:I) shares saw unusually-high trading volume on Friday . Approximately 8,277,456 shares were traded during trading, an increase of 980% from the previous session’s volume of 766,138 shares.The stock last traded at $0.95 and had previously closed at $0.80.

IPCI has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of IntelliPharmaCeutics Intl from a “sell” rating to a “hold” rating in a research note on Wednesday, December 13th. Mackie upgraded shares of IntelliPharmaCeutics Intl to a “hold” rating and increased their price target for the stock from $1.00 to $3.10 in a research note on Tuesday, September 26th. Finally, HC Wainwright initiated coverage on shares of IntelliPharmaCeutics Intl in a research note on Friday. They set a “buy” rating and a $2.50 price target for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. IntelliPharmaCeutics Intl has a consensus rating of “Hold” and an average target price of $2.40.

The stock has a market capitalization of $33.12, a P/E ratio of -2.79 and a beta of 0.99.

A hedge fund recently raised its stake in IntelliPharmaCeutics Intl stock. Advisor Group Inc. increased its holdings in shares of IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) (TSE:I) by 57.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,409 shares of the company’s stock after purchasing an additional 17,342 shares during the period. Advisor Group Inc. owned 0.16% of IntelliPharmaCeutics Intl worth $100,000 as of its most recent SEC filing. 3.78% of the stock is currently owned by hedge funds and other institutional investors.

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About IntelliPharmaCeutics Intl

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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