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H.C. Wainwright Thinks IntelGenx Technologies’ Stock is Going to Recover


In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on IntelGenx Technologies (IGXT), with a price target of $1.50. The company’s shares opened today at $0.61, close to its 52-week low of $0.55.

According to TipRanks.com, Ramakanth is a 3-star analyst with an average return of 2.2% and a 35.5% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, Trillium Therapeutics, and Leap Therapeutics Inc.

Currently, the analyst consensus on IntelGenx Technologies is a Moderate Buy with an average price target of $1.75, which is a 186.9% upside from current levels. In a report released today, Maxim Group also maintained a Buy rating on the stock with a $2 price target.

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Based on IntelGenx Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.4 million. In comparison, last year the company had a GAAP net loss of $782K.

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IntelGenx Technologies Corp. engages in the development of novel oral immediate-release and controlled-release products for the pharmaceutical market. Its products include rizaport, tadalafil, loxapine, and montelukast.

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