Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) has been assigned a $6.00 target price by Maxim Group in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the stock. Maxim Group’s price objective suggests a potential upside of 90.48% from the company’s previous close.
A number of other brokerages also recently issued reports on IPCI. Zacks Investment Research upgraded Intellipharmaceutics International from a “sell” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Tuesday, October 18th. Brean Capital started coverage on Intellipharmaceutics International in a research report on Monday, October 3rd. They set a “buy” rating and a $8.00 price target for the company.
Shares of Intellipharmaceutics International (NASDAQ:IPCI) opened at 3.15 on Friday. Intellipharmaceutics International has a 52-week low of $1.41 and a 52-week high of $3.35. The firm’s 50-day moving average is $2.85 and its 200-day moving average is $2.03. The firm’s market cap is $91.24 million.
A hedge fund recently raised its stake in Intellipharmaceutics International stock. Atria Investments LLC increased its position in Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) by 12.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,895 shares of the company’s stock after buying an additional 8,168 shares during the period. Atria Investments LLC owned about 0.26% of Intellipharmaceutics International worth $159,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 1.43% of the company’s stock.
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