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Intellipharmaceutics Intl initiated with a Buy at H.C. Wainwright; tgt $2.50Font size: A | A | A
9:22 AM ET 1/19/18 | Briefing.com
. H.C. Wainwright initiates IPCI with a Buy and price target of $2.50. Firm believes IPCI to be underrated based on its focus-development and commercialization of high-value generic medications, improved formulations of existing drugs, and abuse-deterrent painkillers-and the breadth and depth of its pipeline, which is comprised entirely of agents based on existing approved active pharmaceutical ingredients (APIs). The company possesses a portfolio of generic drug filings that would not be out of place at an entity ten times its size, while also developing two candidates that they consider particularly promising: (1) a proprietary abuse-deterrent formulation of oxycodone, Rexista; and (2) Regabatin XR, a competitor to the extended-release form of pregabalin, sold by Pfizer under the brand Lyrica (coming off patent in December 2018). They believe that Rexista and Regabatin XR could be significant future value drivers for the company, with peak total annual sales of ~$100M.