Impax Laboratories Inc. (NASDAQ:IPXL) – Stock analysts at Leerink Swann reduced their FY2018 earnings per share (EPS) estimates for shares of Impax Laboratories in a research report issued on Tuesday. Leerink Swann analyst J. Gerberry now forecasts that the brokerage will post earnings of $2.25 per share for the year, down from their previous forecast of $2.41. Leerink Swann currently has a “Market Perform” rating and a $24.00 price target on the stock.

Impax Laboratories (NASDAQ:IPXL) last issued its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.11. Impax Laboratories had a return on equity of 11.30% and a net margin of 3.78%. The firm earned $173 million during the quarter, compared to the consensus estimate of $223.67 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. Impax Laboratories’s revenue for the quarter was down 19.4% on a year-over-year basis.

Earnings History and Estimates for Impax Laboratories (NASDAQ:IPXL)

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Impax Laboratories from a “hold” rating to a “sell” rating in a report on Monday. Goldman Sachs Group Inc. raised Impax Laboratories from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $25.00 to $26.00 in a research note on Tuesday, September 27th. Northland Securities raised Impax Laboratories from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, August 15th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $32.00 price target (down from $40.00) on shares of Impax Laboratories in a research note on Saturday, August 13th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $30.00 price target (down from $35.00) on shares of Impax Laboratories in a research note on Thursday, August 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $33.43.

Shares of Impax Laboratories (NASDAQ:IPXL) traded down 1.13% during trading on Wednesday, hitting $21.85. The company had a trading volume of 338,927 shares. The company’s 50 day moving average is $24.38 and its 200 day moving average is $29.14. The firm has a market capitalization of $1.56 billion, a P/E ratio of 46.29 and a beta of 1.21. Impax Laboratories has a 1-year low of $20.97 and a 1-year high of $45.00.

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its stake in Impax Laboratories by 3.3% in the second quarter. BlackRock Fund Advisors now owns 5,797,323 shares of the specialty pharmaceutical company’s stock valued at $167,079,000 after buying an additional 185,241 shares during the period. Vanguard Group Inc. increased its stake in Impax Laboratories by 2.7% in the second quarter. Vanguard Group Inc. now owns 5,605,231 shares of the specialty pharmaceutical company’s stock valued at $161,543,000 after buying an additional 144,892 shares during the period. Franklin Resources Inc. increased its stake in Impax Laboratories by 6.9% in the second quarter. Franklin Resources Inc. now owns 2,475,482 shares of the specialty pharmaceutical company’s stock valued at $71,352,000 after buying an additional 159,076 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Impax Laboratories by 0.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,730,188 shares of the specialty pharmaceutical company’s stock valued at $49,864,000 after buying an additional 8,364 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Impax Laboratories by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,637,942 shares of the specialty pharmaceutical company’s stock valued at $47,207,000 after buying an additional 85,854 shares during the period. 88.13% of the stock is currently owned by institutional investors and hedge funds.

In other Impax Laboratories news, Director Leslie Z. Benet sold 10,092 shares of the business’s stock in a transaction on Monday, August 15th. The stock was 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 $917,532.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is owned by company insiders.

About Impax Laboratories

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.

5 Day Chart for NASDAQ:IPXL

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