IntelGenx Technologies Corp. (OTCMKTS:IGXT) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 55,100 shares, a drop of 14.7% from the August 31st total of 64,600 shares. Based on an average trading volume of 428,800 shares, the days-to-cover ratio is currently 0.1 days.
Separately, Echelon Wealth Partners reissued a “buy” rating and set a $1.20 price objective on shares of IntelGenx Technologies in a report on Monday, September 7th.
OTCMKTS:IGXT traded down $0.00 on Thursday, hitting $0.14. 81,606 shares of the stock were exchanged, compared to its average volume of 452,272. The stock has a market capitalization of $15.99 million, a price-to-earnings ratio of -0.56 and a beta of 2.04. IntelGenx Technologies has a 52 week low of $0.12 and a 52 week high of $0.70. The company has a debt-to-equity ratio of 4.20, a quick ratio of 0.99 and a current ratio of 1.08. The company’s 50-day moving average price is $0.16 and its 200 day moving average price is $0.20.
About IntelGenx Technologies
IntelGenx Technologies Corp., a drug delivery company, focuses on the development of novel oral immediate-release and controlled-release products for the pharmaceutical market. It offers RIZAPORT, an oral thin film formulation of rizatriptan benzoate for the treatment of acute migraines. The company's products under development comprise INT0001/2004, an anti-hypertension drug; INT0004/2006, an antidepressant; INT0007/2006 for the treatment of erectile dysfunction; INT0008/2008 for migraine; INT0010/2006 for the treatment of neuropathic pain and nausea in cancer patients; INT0027/2011 to treat opioid dependence; INT0036/2013 for schizophrenia; and INT0043/2015 to treat Alzheimer's disease.
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