IntelGenx Technologies (OTCMKTS:IGXT) Downgraded by Zacks Investment Research to “Sell”

IntelGenx Technologies (OTCMKTS:IGXT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

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 equities research analysts also recently commented on IGXT. HC Wainwright reiterated a “buy” rating and set a $1.00 price objective on shares of IntelGenx Technologies in a research report on Monday. Maxim Group reiterated a “buy” rating and set a $1.50 price objective on shares of IntelGenx Technologies in a research report on Friday, August 9th.

Shares of OTCMKTS:IGXT remained flat at $$0.40 on Thursday. The stock had a trading volume of 31,142 shares, compared to its average volume of 190,953. IntelGenx Technologies has a one year low of $0.39 and a one year high of $1.83. The firm has a fifty day simple moving average of $0.48 and a 200 day simple moving average of $0.57. The stock has a market cap of $37.41 million, a PE ratio of -2.86 and a beta of 1.73. The company has a debt-to-equity ratio of 1.02, a current ratio of 4.08 and a quick ratio of 3.93.

IntelGenx Technologies (OTCMKTS:IGXT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). IntelGenx Technologies had a negative net margin of 541.77% and a negative return on equity of 175.02%. The company had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.90 million. As a group, research analysts forecast that IntelGenx Technologies will post -0.07 earnings per share for the current fiscal year.

IntelGenx Technologies Company Profile

IntelGenx Technologies Corp., a drug delivery company, focuses on the development of 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; INT0008/2008 for migraine; INT0010/2006 for the treatment of neuropathic pain and nausea in cancer patients; INT0027/2011 to treat opioid dependence; INT0036/2013 for schizophrenia; and INT0043/2015 to treat Alzheimer's disease.

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