Brokerages Expect Intellipharmaceutics International Inc. (IPCI) Will Announce Earnings of -$0.04 Per Share

Equities research analysts expect Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) to announce earnings per share of ($0.04) for the current quarter, Zacks reports. Two analysts have made estimates for Intellipharmaceutics International’s earnings, with the highest EPS estimate coming in at ($0.02) and the lowest estimate coming in at ($0.06). Intellipharmaceutics International reported earnings per share of ($0.07) in the same quarter last year, which would indicate a positive year-over-year growth rate of 42.9%. The business is expected to announce its next earnings results on Thursday, October 12th.

On average, analysts expect that Intellipharmaceutics International will report full year earnings of ($0.20) per share for the current fiscal year, with EPS estimates ranging from ($0.29) to ($0.11). For the next financial year, analysts forecast that the business will report earnings of $0.13 per share, with EPS estimates ranging from ($0.26) to $0.51. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Intellipharmaceutics International.

IPCI has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Intellipharmaceutics International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Mackie raised shares of Intellipharmaceutics International to a “hold” rating and lifted their price objective for the stock from $1.00 to $3.10 in a research report on Tuesday, September 26th. ValuEngine cut shares of Intellipharmaceutics International from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, Maxim Group set a $6.00 price objective on shares of Intellipharmaceutics International and gave the stock a “buy” rating in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $3.78.

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Intellipharmaceutics International (NASDAQ:IPCI) remained flat at $1.11 during trading on Friday. 265,923 shares of the company’s stock were exchanged. Intellipharmaceutics International has a 52 week low of $0.81 and a 52 week high of $3.35. The stock’s 50 day moving average price is $0.98 and its 200-day moving average price is $1.78. The company’s market capitalization is $33.94 million.

A hedge fund recently raised its stake in Intellipharmaceutics International stock. Argent Trust Co grew its holdings in Intellipharmaceutics International Inc. (NASDAQ:IPCI) (TSE:I) by 52.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,693 shares of the company’s stock after acquiring an additional 20,556 shares during the quarter. Argent Trust Co owned 0.20% of Intellipharmaceutics International worth $125,000 as of its most recent SEC filing. Institutional investors own 4.24% of the company’s stock.

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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