$3.25 Million in Sales Expected for Intellipharmaceutics International Inc. (IPCI) This Quarter
Equities research analysts expect Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) to report $3.25 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Intellipharmaceutics International’s earnings, with the lowest sales estimate coming in at $1.50 million and the highest estimate coming in at $5.00 million. Intellipharmaceutics International posted sales of $570,000.00 during the same quarter last year, which suggests a positive year over year growth rate of 470.2%. The business is expected to report its next earnings report on Friday, February 9th.
On average, analysts expect that Intellipharmaceutics International will report full-year sales of $3.25 million for the current fiscal year, with estimates ranging from $6.00 million to $11.74 million. For the next year, analysts forecast that the firm will report sales of $19.95 million per share, with estimates ranging from $7.60 million to $32.30 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Intellipharmaceutics International.
IPCI has been the topic of several analyst reports. Zacks Investment Research raised shares of Intellipharmaceutics International from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Mackie raised shares of Intellipharmaceutics International to a “hold” rating and raised their target price for the company from $1.00 to $3.10 in a report on Tuesday, September 26th. ValuEngine cut shares of Intellipharmaceutics International from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, Maxim Group reduced their target price on shares of Intellipharmaceutics International from $6.00 to $2.00 and set a “buy” rating on the stock in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Intellipharmaceutics International presently has a consensus rating of “Hold” and a consensus target price of $2.37.
A hedge fund recently raised its stake in Intellipharmaceutics International stock. Argent Trust Co grew its stake in shares of Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) by 52.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,693 shares of the company’s stock after purchasing an additional 20,556 shares during the quarter. Argent Trust Co owned approximately 0.20% of Intellipharmaceutics International worth $125,000 as of its most recent filing with the Securities and Exchange Commission. 3.57% of the stock is owned by institutional investors and hedge funds.
Shares of Intellipharmaceutics International (NASDAQ:IPCI) opened at $0.92 on Wednesday. Intellipharmaceutics International has a 1-year low of $0.81 and a 1-year high of $3.35.
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About Intellipharmaceutics International
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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