In a research report issued today, Maxim Group analyst Jason Kolbert maintained a Buy rating on Intellipharmaceutics International (NASDAQ:IPCI) with a $7 price target, as the company recently conducted and analyzed the results of six phase I trials involving a BID and QD formulation.
Kolbert noted, “We continue to expect generic drug approvals to drive near-term revenues for the company. We see the Rexista abuse-deterrent technology (ADT) as the most important driver to the company and the stock.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 4.5% and a 40.2% success rate. Kolbert has a -27.1% average return when recommending IPCI, and is ranked #745 out of 3339 analysts.