The firm cited the company's lower-than-expected revenue and greater-than-expected expenses. Maxim also has concerns that Intellipharmaceutics' Abuse Deterrent Technology is no longer different from Teva Pharmaceuticals' (TEVA).
The stock was down 13.91% to $2.91 at 3:38 p.m. More than 1.1 million shares changed hands, compared to the average volume of 186,229.
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts