IntelGenx Technologies (IGXT) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of IntelGenx Technologies (OTCMKTS:IGXT) from a sell rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “IntelGenx is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. The Company uses its unique multiple layer delivery system to provide zero-order release of active drugs in the gastro-intestinal tract. IntelGenx has also developed novel delivery technologies for the rapid delivery of pharmaceutically active substances in the oral cavity based on its experience with rapidly disintegrating films. The Company’s research and development pipeline includes products for the treatment of osteoarthritis pain management, hypertension and smoking cessation. “

A number of other research analysts have also weighed in on the company. Maxim Group began coverage on IntelGenx Technologies in a report on Wednesday, June 27th. They issued a buy rating and a $3.00 target price on the stock. ValuEngine upgraded IntelGenx Technologies from a hold rating to a buy rating in a report on Saturday, June 2nd. Finally, HC Wainwright set a $2.00 target price on IntelGenx Technologies and gave the company a buy rating in a report on Tuesday, April 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $2.50.

IntelGenx Technologies opened at $0.73 on Wednesday, Marketbeat.com reports. The company has a market capitalization of $52.08 million, a PE ratio of -18.13 and a beta of 0.79. The company has a debt-to-equity ratio of 3.56, a current ratio of 1.81 and a quick ratio of 1.81. IntelGenx Technologies has a 1-year low of $0.60 and a 1-year high of $0.97.

IntelGenx Technologies (OTCMKTS:IGXT) last announced its quarterly earnings results on Thursday, May 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $0.24 million during the quarter, compared to the consensus estimate of $0.10 million. IntelGenx Technologies had a negative return on equity of 122.60% and a negative net margin of 116.82%. equities analysts forecast that IntelGenx Technologies will post -0.15 earnings per share for the current fiscal year.

IntelGenx Technologies Company Profile

IntelGenx Technologies Corp., a drug delivery company, develops novel oral immediate-release and controlled-release products for the pharmaceutical market. It offers RIZAPORT, an oral thin film formulation of rizatriptan benzoate for the treatment of acute migraines. The company's products under development comprise INT0001/2004, an anti-hypertension drug; INT0004/2006, an antidepressant; INT0007/2006 for the treatment of erectile dysfunction; INT0010/2006 for the treatment of neuropathic pain and nausea in cancer patients; INT0027/2011 to treat opioid dependence; INT0036/2012 for schizophrenia; and INT0043/2015 to treat cognitive impairment and Alzheimer's disease.

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