Zacks Investment Research Lowers IntelGenx Technologies (OTCMKTS:IGXT) to Sell

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IntelGenx Technologies (OTCMKTS:IGXT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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 commented on IGXT. ValuEngine raised shares of IntelGenx Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and issued a $1.00 target price on shares of IntelGenx Technologies in a report on Monday, November 11th. Finally, Echelon Wealth Partners reissued a “buy” rating and issued a $1.60 target price on shares of IntelGenx Technologies in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $1.37.

OTCMKTS:IGXT opened at $0.54 on Wednesday. IntelGenx Technologies has a 52 week low of $0.39 and a 52 week high of $0.80. The firm has a market cap of $50.70 million, a price-to-earnings ratio of -3.87 and a beta of 1.68. The firm’s 50-day simple moving average is $0.57 and its 200 day simple moving average is $0.52. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.92 and a current ratio of 2.07.

IntelGenx Technologies (OTCMKTS:IGXT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). IntelGenx Technologies had a negative net margin of 792.90% and a negative return on equity of 162.47%. The business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.20 million. Sell-side analysts anticipate that IntelGenx Technologies will post -0.11 EPS for the current year.

About IntelGenx Technologies

IntelGenx Technologies Corp., a drug delivery company, focuses on the development of 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; INT0008/2008 for migraine; INT0010/2006 for the treatment of neuropathic pain and nausea in cancer patients; INT0027/2011 to treat opioid dependence; INT0036/2013 for schizophrenia; and INT0043/2015 to treat Alzheimer's disease.

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