IntelliPharmaCeutics Intl (IPCI) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of IntelliPharmaCeutics Intl (NASDAQ:IPCI) (TSE:I) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

According to Zacks, “Intellipharmaceutics International Inc. is engaged in the research, development, and commercialization of controlled-release and targeted pharmaceutical products. Its products include Effexor XR and Protonix. The Company offers products in different stages of development in therapeutic areas, including neurology, cardiovascular, and GIT. Intellipharmaceutics International Inc. was formerly known as IntelliPharmaCeutics Ltd. and is based in Toronto, Canada. “

Separately, Mackie upgraded shares of IntelliPharmaCeutics Intl to a hold rating and raised their target price for the stock from $1.00 to $3.10 in a research note on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. IntelliPharmaCeutics Intl has an average rating of Hold and an average target price of $2.40.

Shares of IntelliPharmaCeutics Intl (NASDAQ IPCI) opened at $0.95 on Wednesday. IntelliPharmaCeutics Intl has a 12 month low of $0.70 and a 12 month high of $3.12.

An institutional investor recently raised its position in IntelliPharmaCeutics Intl stock. Advisor Group Inc. boosted its holdings in IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) (TSE:I) by 57.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,409 shares of the company’s stock after purchasing an additional 17,342 shares during the quarter. Advisor Group Inc. owned 0.16% of IntelliPharmaCeutics Intl worth $100,000 at the end of the most recent reporting period. Institutional investors own 3.78% of the company’s stock.

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IntelliPharmaCeutics Intl 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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