IntelGenx Technologies (OTCMKTS:IGXT) Downgraded by Zacks Investment Research to “Sell”

IntelGenx Technologies (OTCMKTS:IGXT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, 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. “

IGXT has been the subject of several other reports. Maxim Group reaffirmed a “buy” rating and set a $1.50 target price on shares of IntelGenx Technologies in a report on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $1.00 target price on shares of IntelGenx Technologies in a report on Monday.

IntelGenx Technologies stock remained flat at $$0.40 during midday trading on Thursday. The company had a trading volume of 31,142 shares, compared to its average volume of 190,953. The company has a debt-to-equity ratio of 1.02, a quick ratio of 3.93 and a current ratio of 4.08. The company has a market capitalization of $37.41 million, a PE ratio of -2.86 and a beta of 1.73. IntelGenx Technologies has a 1 year low of $0.39 and a 1 year high of $1.83. The business’s 50 day moving average is $0.48 and its two-hundred day moving average is $0.57.

IntelGenx Technologies (OTCMKTS:IGXT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). The firm had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.90 million. IntelGenx Technologies had a negative net margin of 541.77% and a negative return on equity of 175.02%. As a group, equities research analysts forecast that IntelGenx Technologies will post -0.07 EPS for the current fiscal 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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