Zacks Investment Research Upgrades IntelGenx Technologies (IGXT) to Buy

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IntelGenx Technologies (OTCMKTS:IGXT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $0.75 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 8.70% from the stock’s current price.

According to Zacks, “IntelGenx is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. The Company uses its unique multiple layer delivery system to provide zero-order release of active drugs in the gastro-intestinal tract. IntelGenx has also developed novel delivery technologies for the rapid delivery of pharmaceutically active substances in the oral cavity based on its experience with rapidly disintegrating films. The Company’s research and development pipeline includes products for the treatment of osteoarthritis pain management, hypertension and smoking cessation. “

Several other research firms have also issued reports on IGXT. Maxim Group began coverage on shares of IntelGenx Technologies in a report on Wednesday, June 27th. They issued a “buy” rating and a $3.00 target price on the stock. ValuEngine upgraded shares of IntelGenx Technologies from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Five research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $1.92.

Shares of OTCMKTS:IGXT opened at $0.69 on Tuesday. The firm has a market cap of $52.78 million, a PE ratio of -17.25 and a beta of 0.72. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 4.56. IntelGenx Technologies has a 52 week low of $0.60 and a 52 week high of $0.92.

IntelGenx Technologies (OTCMKTS:IGXT) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.10 million. IntelGenx Technologies had a negative net margin of 202.88% and a negative return on equity of 214.48%. equities analysts anticipate that IntelGenx Technologies will post -0.15 earnings per share 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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