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

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Zacks Investment Research cut shares of IntelGenx Technologies (OTCMKTS:IGXT) from a hold rating to a sell rating in a research note issued to investors 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. “

A number of other analysts have also recently issued reports on IGXT. HC Wainwright restated a buy rating and set a $1.00 target price on shares of IntelGenx Technologies in a research note on Monday, August 12th. Maxim Group reaffirmed a buy rating and set a $1.50 price target on shares of IntelGenx Technologies in a research report on Friday, August 9th.

OTCMKTS IGXT opened at $0.40 on Thursday. The firm has a 50-day moving average of $0.48 and a 200-day moving average of $0.57. The company has a debt-to-equity ratio of 1.48, a quick ratio of 3.93 and a current ratio of 3.33. IntelGenx Technologies has a 52-week low of $0.39 and a 52-week high of $1.83.

IntelGenx Technologies (OTCMKTS:IGXT) last posted its earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.90 million. IntelGenx Technologies had a negative return on equity of 179.90% and a negative net margin of 541.77%. As a group, sell-side analysts expect that IntelGenx Technologies will post -0.11 earnings per share 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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