Home / Healthcare / Intellipharmaceutics International Inc. (IPCI) Gives Up 7.67% at Midday on September 23, Pressuring Health Care Stocks

Intellipharmaceutics International Inc. (IPCI) Gives Up 7.67% at Midday on September 23, Pressuring Health Care Stocks

Intellipharmaceutics International Inc. (IPCI) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the health care sector halfway through the trading day. At the lunch break, shares of IPCI have fallen 7.67% to $2.12 after closing the day prior at $2.3. So far, the stock has traded as high as $2.24 and as low as $2.0. Today’s decline has come with about 792,739 shares changing hands, compared to an average 30-day volume of 181,583 for Intellipharmaceutics International Inc.. The price is currently below the 30-day volume weighted average price of $2.14 for IPCI.

The share depreciation gives the company a market capitalization of $66.5 million based upon 28.96 million shares outstanding. It also means that IPCI has a price-to-book ratio of 24.78:1.

In the past 52 weeks, shares of IPCI have traded as low as $1.41 and as high as $3.19. Technical traders will take note that at $2.12, shares of IPCI are trading above their 200-day MA at $1.95 and above their 50-day MA at $1.79. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is IPCI?

IntelliPharmaCeutics International Inc is a pharmaceutical company. The Company is engaged in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs. The company’s 52 employees are led by CEO Isa Odidi from the corporate headquarters at 30 Worcester Road in Toronto, ON.


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