H.C. Wainwright Reaffirms Their Buy Rating on IntelGenx Technologies (IGXT)

By Carrie Williams

H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on IntelGenx Technologies (IGXTResearch Report) today and set a price target of $1. The company’s shares closed on Friday at $0.41, close to its 52-week low of $0.39.

According to TipRanks.com, Ramakanth is ranked 0 out of 5 stars with an average return of -11.9% and a 28.2% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Gritstone Oncology Inc, Trillium Therapeutics, and Leap Therapeutics Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for IntelGenx Technologies with a $1.25 average price target, a 206.1% upside from current levels. In a report issued on August 9, Maxim Group also maintained a Buy rating on the stock with a $1.50 price target.

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Based on IntelGenx Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.6 million. In comparison, last year the company had a GAAP net loss of $2.4 million.

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IntelGenx Technologies Corp. is a oral drug delivery company, which focuses on the development and manufacturing of pharmaceutical oral films based on its proprietary VersaFilm technology platform. Its products include rizaport, tadalafil, loxapine, and montelukast.