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

Wed Jul 9, 2014 3:06pm EDT
 
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** 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