IntelliPharmaCeutics: We See No Reason To Be Long On Shares, Says Maxim
In a research report released July 21, Maxim Group analyst Jason Kolbert reaffirmed a Hold rating on IntelliPharmaCeutics (IPCI) with a $3 price target.
The analyst commented: “IPCI reported the quarter last week, and the numbers were well below our expectations. We reached out to management to discuss the results, but CEO Isa Odidi has not replied. With zero visibility on the timing of the next XR generic, as well as building concerns that Rexista has few advantages versus more well financed competitors, we see no reason to be long on shares”.
According to TipRanks.com, which measures analysts and bloggers success rate based on how their calls perform, analyst Jason Kolbert has a 5.6% average return and a 50% success rate. Kolbert has a -34.3% average return when recommending IPCI, and is ranked #813 out of 3207 analysts.