IntelliPharmaCeutics Intl (IPCI) Downgraded to Sell at 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 report released on Wednesday morning.

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. “

IPCI has been the topic of several other reports. Mackie raised shares of IntelliPharmaCeutics Intl to a hold rating and upped their price objective for the stock from $1.00 to $3.10 in a research note on Tuesday, September 26th. ValuEngine cut shares of IntelliPharmaCeutics Intl from a sell rating to a strong sell rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $2.37.

Shares of IntelliPharmaCeutics Intl (NASDAQ IPCI) remained flat at $$0.75 during trading on Wednesday. The stock had a trading volume of 155,900 shares, compared to its average volume of 303,198. 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. Argent Trust Co grew its position in shares of IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) (TSE:I) by 52.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,693 shares of the company’s stock after buying an additional 20,556 shares during the quarter. Argent Trust Co owned approximately 0.20% of IntelliPharmaCeutics Intl worth $125,000 as of its most recent filing with the Securities and Exchange Commission. 3.38% of the stock is currently owned by institutional investors and hedge funds.

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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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