Impax Laboratories Inc. (IPXL) PT Lowered to $18.00
Impax Laboratories Inc. (NASDAQ:IPXL) had its price target decreased by research analysts at Royal Bank Of Canada from $30.00 to $18.00 in a research report issued on Thursday. The firm currently has a “sector perform” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 28.57% from the stock’s current price.
A number of other equities analysts have also issued reports on IPXL. Bank of America Corp. lowered shares of Impax Laboratories from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a research report on Monday. WallachBeth Capital decreased their price target on Impax Laboratories from $40.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Deutsche Bank AG decreased their price target on Impax Laboratories from $31.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, August 10th. Zacks Investment Research raised Impax Laboratories from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Thursday, October 20th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $30.00 price target (down from $35.00) on shares of Impax Laboratories in a report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $31.07.
Shares of Impax Laboratories (NASDAQ:IPXL) opened at 14.00 on Thursday. The stock has a market cap of $997.25 million, a price-to-earnings ratio of 29.66 and a beta of 1.41. The stock’s 50 day moving average is $22.15 and its 200-day moving average is $27.47. Impax Laboratories has a 12-month low of $13.35 and a 12-month high of $45.00.
Impax Laboratories (NASDAQ:IPXL) last announced its 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 business had revenue of $228 million for the quarter, compared to analysts’ expectations of $234.87 million. Impax Laboratories had a return on equity of 11.30% and a net margin of 3.78%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. Equities analysts anticipate that Impax Laboratories will post $1.59 EPS for the current fiscal year.
In other news, Director Leslie Z. Benet sold 10,092 shares of Impax Laboratories stock in a transaction on Monday, August 15th. The stock was sold at an average price of $22.81, for a total transaction of $230,198.52. Following the completion of the transaction, the director now owns 40,225 shares of the company’s stock, valued at approximately $917,532.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Walleye Trading LLC boosted its stake in Impax Laboratories by 66.1% in the second quarter. Walleye Trading LLC now owns 3,883 shares of the specialty pharmaceutical company’s stock worth $112,000 after buying an additional 1,545 shares in the last quarter. Rational Advisors LLC bought a new stake in Impax Laboratories during the second quarter worth approximately $112,000. Acrospire Investment Management LLC boosted its stake in Impax Laboratories by 198.5% in the second quarter. Acrospire Investment Management LLC now owns 3,910 shares of the specialty pharmaceutical company’s stock worth $113,000 after buying an additional 2,600 shares in the last quarter. BlackRock Inc. boosted its stake in Impax Laboratories by 128.2% in the first quarter. BlackRock Inc. now owns 4,834 shares of the specialty pharmaceutical company’s stock worth $154,000 after buying an additional 2,716 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Impax Laboratories by 625.0% in the third quarter. Nisa Investment Advisors LLC now owns 5,800 shares of the specialty pharmaceutical company’s stock worth $137,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.
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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