Impax Laboratories Inc. (NASDAQ:IPXL) had its price objective decreased by equities research analysts at RBC Capital Markets from $30.00 to $18.00 in a research note issued on Thursday. The firm presently has a “sector perform” rating on the specialty pharmaceutical company’s stock. RBC Capital Markets’ target price indicates a potential upside of 28.57% from the company’s current price.

Several other brokerages have also recently weighed in on IPXL. Leerink Swann lowered their price objective on shares of Impax Laboratories from $33.00 to $24.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 10th. WallachBeth Capital lowered their price objective on shares of Impax Laboratories from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Goldman Sachs Group Inc. upgraded shares of Impax Laboratories from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $25.00 to $26.00 in a research note on Tuesday, September 27th. Zacks Investment Research upgraded shares of Impax Laboratories from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Thursday, October 20th. Finally, Northland Securities upgraded shares of Impax Laboratories from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Monday, August 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.27.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

Impax Laboratories (NASDAQ:IPXL) opened at 14.00 on Thursday. Impax Laboratories has a 1-year low of $13.35 and a 1-year high of $45.00. The firm has a 50-day moving average of $22.15 and a 200-day moving average of $27.47. The stock has a market cap of $997.25 million, a PE ratio of 29.66 and a beta of 1.41.

Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $228 million for the quarter, compared to analysts’ expectations of $234.87 million. Impax Laboratories had a net margin of 3.78% and a return on equity of 11.30%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 EPS. Analysts expect that Impax Laboratories will post $1.59 EPS for the current fiscal year.

In other Impax Laboratories news, Director Leslie Z. Benet sold 10,092 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $22.81, for a total transaction of $230,198.52. Following the completion of the sale, the director now directly owns 40,225 shares of the company’s stock, valued at approximately $917,532.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.30% of the company’s stock.

A number of large investors have recently made changes to their positions in IPXL. Seven Bridges Advisors LLC raised its stake in shares of Impax Laboratories by 0.3% in the second quarter. Seven Bridges Advisors LLC now owns 32,190 shares of the specialty pharmaceutical company’s stock worth $928,000 after buying an additional 108 shares during the period. Boston Advisors LLC raised its stake in shares of Impax Laboratories by 1.1% in the second quarter. Boston Advisors LLC now owns 11,785 shares of the specialty pharmaceutical company’s stock worth $340,000 after buying an additional 125 shares during the period. Mackenzie Financial Corp raised its stake in shares of Impax Laboratories by 1.0% in the second quarter. Mackenzie Financial Corp now owns 20,587 shares of the specialty pharmaceutical company’s stock worth $593,000 after buying an additional 200 shares during the period. Municipal Employees Retirement System of Michigan raised its position in Impax Laboratories by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 15,400 shares of the specialty pharmaceutical company’s stock worth $365,000 after buying an additional 260 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position 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 worth $1,320,000 after buying an additional 323 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

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.

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