IntelliPharmaCeutics Intl (IPCI) Hits New 52-Week Low at $0.57
Shares of IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) (TSE:I) reached a new 52-week low during trading on Tuesday . The company traded as low as $0.57 and last traded at $0.57, with a volume of 506232 shares traded. The stock had previously closed at $0.62.
IPCI has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of IntelliPharmaCeutics Intl from a “sell” rating to a “hold” rating in a research note on Wednesday, December 13th. HC Wainwright initiated coverage on shares of IntelliPharmaCeutics Intl in a research note on Friday, January 19th. They issued a “buy” rating and a $2.50 target price for the company. Finally, Maxim Group set a $2.00 target price on shares of IntelliPharmaCeutics Intl and gave the stock a “buy” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $2.53.
The stock has a market capitalization of $22.85, a PE ratio of -2.24 and a beta of 1.23.
An institutional investor recently bought a new position in IntelliPharmaCeutics Intl stock. Armistice Capital LLC purchased a new position in shares of IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) (TSE:I) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,936,000 shares of the company’s stock, valued at approximately $1,549,000. Armistice Capital LLC owned about 6.23% of IntelliPharmaCeutics Intl at the end of the most recent quarter. 11.31% of the stock is owned by hedge funds and other institutional investors.
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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