Analysts Set Impax Laboratories Inc. (NASDAQ:IPXL) PT at $32.83
Impax Laboratories Inc. (NASDAQ:IPXL) has been given a consensus rating of “Hold” by the sixteen analysts that are covering the firm. Eleven research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $32.83.
A number of analysts recently weighed in on IPXL shares. Goldman Sachs Group Inc. raised shares of Impax Laboratories from a “sell” rating to a “neutral” rating and raised their price target for the company from $25.00 to $26.00 in a report on Tuesday, September 27th. Deutsche Bank AG lowered their price target on shares of Impax Laboratories from $31.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, August 10th. Northland Securities raised shares of Impax Laboratories from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Monday, August 15th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $40.00 target price (down previously from $41.00) on shares of Impax Laboratories in a report on Wednesday, June 22nd. Finally, Leerink Swann reaffirmed a “market perform” rating and set a $33.00 target price (up previously from $31.00) on shares of Impax Laboratories in a report on Wednesday, July 6th.
Impax Laboratories (NASDAQ:IPXL) opened at 23.56 on Friday. The stock has a 50 day moving average of $24.64 and a 200-day moving average of $29.65. Impax Laboratories has a 1-year low of $20.97 and a 1-year high of $45.00. The firm has a market capitalization of $1.68 billion, a P/E ratio of 49.92 and a beta of 1.21.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.11. The company earned $173 million during the quarter, compared to analyst estimates of $223.67 million. Impax Laboratories had a net margin of 3.78% and a return on equity of 11.30%. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS. On average, equities research analysts anticipate that Impax Laboratories will post $1.59 earnings per share for the current year.
In related news, Director Leslie Z. Benet sold 10,092 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $22.81, for a total value of $230,198.52. Following the sale, the director now directly owns 40,225 shares of the company’s stock, valued at approximately $917,532.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Nomura Holdings Inc. bought a new stake in Impax Laboratories during the second quarter valued at approximately $4,172,000. Mason Street Advisors LLC bought a new stake in Impax Laboratories during the second quarter valued at approximately $391,000. Public Employees Retirement System of Ohio boosted its stake in Impax Laboratories by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 45,803 shares of the specialty pharmaceutical company’s stock valued at $1,320,000 after buying an additional 323 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Impax Laboratories by 22.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 411,763 shares of the specialty pharmaceutical company’s stock valued at $11,868,000 after buying an additional 76,500 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Impax Laboratories by 4.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 53,112 shares of the specialty pharmaceutical company’s stock valued at $1,531,000 after buying an additional 2,484 shares in the last quarter. 88.17% of the stock is currently owned by institutional investors and hedge funds.
Impax Laboratories Company Profile
Impax Laboratories, Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), as well as the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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