Vancouver, BC, March 14, 2014 - Investment firm Mackie Research has initiated coverage on Intellipharmaceutics International, (NASDAQ:IPCI) (TSX:I). Analyst Andre Uddin gives the company a speculative buy recommendation and 12-month target of US$11.00, a premium of 140% to the $4.58 price on March 12th, the day the report was issued.
InvestmentPitch.com has produced a "video research alert (http://www.investmentpitch.com/video/0_vt5phi2k/Mackie-Research-has-updated-initiated-coverage-on-Intellipharmaceutics-International-TSX-I-NASDAQ-IPCI)" about Intellipharmaceutics based on this report. If this link is not enabled, please visit www.InvestmentPitch.com (http://www.InvestmentPitch.com/) and enter "IPCI" in the search box.
The company is an emerging drug delivery company that researches, develops and manufactures brand as well as generic controlled-release oral solid dosage drugs.
The company received approval of its first generic product, Focalin XR, in November 2013 and its marketing partner Par Pharmaceutics immediately launched the drug at the end of November 2013. The company has a total of seven controlled-release generic drugs that are awaiting FDA approval. They expect four new generic product approvals and launches in the next 12 to 18 months.
Mackie Research believes investors should focus their intention on Rexista-oxycodone, as they expect the company to monetize this asset by licensing it out in 12 to 18 months. As a unique abuse-resistant opioid OxyContin formulation, potentially best in class for the treatment of pain, it is the most important product in the company's pipeline, targeting a US$2.3 billion market opportunity.
Drs. Isa and Amini Odidi are committed to the company, as they own approximately 26% of the issued and outstanding shares. They are world-renowned drug delivery scientists who have published over 100 papers. Their expertise in drug delivery development directly helped Biovail's initial growth phase, as they were responsible for developing the company's eight key generic drugs.
Analyst Andre Uddin stated, "We expect the stock to appreciate as new generic products are launched, the company's revenue base builds and Rexista-oxycodone moves to pivotal development."
The shares are currently trading at $4.25, well below Mackie Research's target price of $11.00, and with 22.8 million shares outstanding, the company is capitalized at US$96.9 million.
For more information, please visit the company's website www.intellipharmaceutics.com (http://www.intellipharmaceutics.com/). Investor relations is handled by Kirin Smith at ProActive Capital. He can be reached at 646-863-6519, or email ksmith@proactivecapital.com (mailto:ksmith@proactivecapital.com).
For more information about Mackie Research or to obtain the report on Intellipharmaceutics contact your nearest Mackie Research office. Their branches are listed on their website at www.mackieresearch.com (http://www.mackieresearch.com/).
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