Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I)‘s stock had its “buy” rating reiterated by equities research analysts at Aegis in a research report issued on Monday. They currently have a $8.00 target price on the stock. Aegis’ price objective would suggest a potential upside of 191.97% from the company’s current price.
Several other research analysts also recently commented on IPCI. Maxim Group set a $6.00 price objective on Intellipharmaceutics International and gave the stock a “buy” rating in a research note on Saturday, October 15th. Zacks Investment Research raised Intellipharmaceutics International from a “sell” rating to a “hold” rating in a research note on Friday, January 6th. Finally, Brean Capital set a $8.00 price objective on Intellipharmaceutics International and gave the stock a “buy” rating in a research note on Monday, October 10th.
Shares of Intellipharmaceutics International (NASDAQ:IPCI) traded down 2.92% during mid-day trading on Monday, reaching $2.66. The company’s stock had a trading volume of 70,946 shares. Intellipharmaceutics International has a 12-month low of $1.41 and a 12-month high of $3.35. The stock’s market capitalization is $77.04 million. The company’s 50-day moving average price is $2.86 and its 200-day moving average price is $2.26.
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A hedge fund recently raised its stake in Intellipharmaceutics International stock. Atria Investments LLC raised its stake in shares of Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) by 12.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,895 shares of the company’s stock after buying an additional 8,168 shares during the period. Atria Investments LLC owned 0.26% of Intellipharmaceutics International worth $159,000 at the end of the most recent quarter. 1.70% of the stock is currently owned by institutional investors.
About Intellipharmaceutics International
IntelliPharmaCeutics International Inc is a Canada-based pharmaceutical company specializing 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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