The stock of INTELGENX TECHNOLOGIES CORP. (CVE:IGX) gapped up by $0.02 today and has $1.11 target or 9.00% above today’s $1.02 share price. The 8 months technical chart setup indicates low risk for the $63.62 million company. The gap was reported on Nov, 28 by Barchart.com. If the $1.11 price target is reached, the company will be worth $5.73M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 21,500 shares traded hands or 541.60% up from the average. INTELGENX TECHNOLOGIES CORP. (CVE:IGX) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
More important recent INTELGENX TECHNOLOGIES CORP. (CVE:IGX) news were published by: Seekingalpha.com which released: “The Ducks Are Lining Up For IntelGenx Bulls” on January 27, 2014, also Seekingalpha.com published article titled: “IntelGenx- Maintaining Buy Rating”, Investorintel.com published: “Zerbe: how IntelGenX saw opportunity with oral films” on May 11, 2016. More interesting news about INTELGENX TECHNOLOGIES CORP. (CVE:IGX) was released by: Seekingalpha.com and their article: “IntelGenx: A Compelling Investment Opportunity” with publication date: June 27, 2014.
IGX.V Company Profile
IntelGenx Technologies Corp. (IntelGenx), incorporated on July 27, 1999, is a drug delivery firm focusing on the development of orally administered drug delivery products based on its oral drug delivery technologies. The Firm is a well-known provider of product development services for the pharmaceutical industry, including the branded and generic pharmaceutical markets. The Company’s product development is based upon three delivery platform technologies: a Multilayer Tablet technology an Oral Film technology, and a Mucoadhesive Tablet technology. The Company’s Multilayer Tablet platform technology allows for the development of oral controlled-release products. The Oral Film technology allows for the instant delivery of pharmaceuticals to the oral cavity, and the Mucoadhesive Tablet allows for the controlled release of active substances to the oral mucosa.
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