IntelGenx Technologies (IGXT) Given “Buy” Rating at Maxim Group

Maxim Group restated their buy rating on shares of IntelGenx Technologies (OTCMKTS:IGXT) in a research report sent to investors on Friday. Maxim Group currently has a $2.00 target price on the stock.

“IntelGenX reported 3Q18 revenue of $700K and a net loss of ($2.9M). The company ended the period with $2.2M in cash, excluding $12M raised in October in an equity offering. With current operating expenses of $3.3M, we estimate runway into late 2019.”,” Maxim Group’s analyst commented.

Separately, Zacks Investment Research raised shares of IntelGenx Technologies from a hold rating to a buy rating and set a $0.75 price objective for the company in a report on Tuesday, August 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $1.58.

Shares of IntelGenx Technologies stock traded down $0.02 during trading on Friday, hitting $0.58. 450,010 shares of the company’s stock were exchanged, compared to its average volume of 768,850. The company has a debt-to-equity ratio of 4.56, a current ratio of 1.90 and a quick ratio of 1.90. IntelGenx Technologies has a 52-week low of $0.55 and a 52-week high of $1.83. The stock has a market cap of $46.88 million, a PE ratio of -14.39 and a beta of 1.42.

IntelGenx Technologies (OTCMKTS:IGXT) last issued its earnings results on Thursday, August 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). IntelGenx Technologies had a negative net margin of 202.88% and a negative return on equity of 214.48%. The firm had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $0.10 million. As a group, equities analysts expect that IntelGenx Technologies will post -0.14 EPS for the current year.

IntelGenx Technologies Company Profile

IntelGenx Technologies Corp., a drug delivery company, develops 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; INT0010/2006 for the treatment of neuropathic pain and nausea in cancer patients; INT0027/2011 to treat opioid dependence; INT0036/2012 for schizophrenia; and INT0043/2015 to treat cognitive impairment and Alzheimer's disease.

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