July 9, 2014 / 7:09 PM / 3 years ago

BUZZ- Intellipharmaceutics International Inc: Analyst downgrades to "Hold"

1 Min Read

** Canada-based drugmaker's U.S.-listed shares down 12 percent at $2.97

** Maxim Group analysts downgrades stock to "hold" from "buy" and cuts price target to $3 from $7, saying second-quarter revenue missed their expectations and costs exceeded estimates

** Analysts also concerns about revenue assumptions from Intellipharmaceutics' generic version of Novartis Pharmaceuticals Corp's drug Focalin XR

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