Intellipharmaceutics (IPCI): Reiterating Buy After MNK Deal - Brean Capital

October 12, 2016 10:47 AM EDT
Get Alerts IPCI Hot Sheet
Price: $3.01 -4.44%

Rating Summary:
    4 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 26 | Down: 28 | New: 38
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Brean Capital analyst, Difei Yang, reiterated his Buy rating on shares of IntelliPharmaCeutics International (NASDAQ: IPCI) after the company announced that it had signed into an exclusive, 10-year license and commercial supply agreement with Mallinckrodt (NYSE: MNK).

The deal covers generics Seroquel, Pristiq, and Lamictal. Pursuant to the agreement, IPCI will receive a non-refundable $3 mil upfront payment in October 2016 with the potential to also receive up to $11 mil in cost recovery payments related to a long-term profit sharing arrangement.

No change to the price target of $8.

For an analyst ratings summary and ratings history on IntelliPharmaCeutics International click here. For more ratings news on IntelliPharmaCeutics International click here.

Shares of IntelliPharmaCeutics International closed at $2.83 yesterday.

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