Impax Laboratories Inc. Forecasted to Earn Q1 2017 Earnings of $0.47 Per Share (IPXL)
Impax Laboratories Inc. (NASDAQ:IPXL) – Leerink Swann issued their Q1 2017 earnings per share (EPS) estimates for shares of Impax Laboratories in a research report issued on Thursday. Leerink Swann analyst J. Gerberry anticipates that the brokerage will post earnings per share of $0.47 for the quarter. Leerink Swann has a “Market Perform” rating and a $24.00 price target on the stock. Leerink Swann also issued estimates for Impax Laboratories’ Q2 2017 earnings at $0.49 EPS and Q3 2017 earnings at $0.54 EPS.
Several other research firms also recently commented on IPXL. Bank of America Corp. downgraded 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, November 7th. WallachBeth Capital lowered their target price on shares of Impax Laboratories from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th. Royal Bank Of Canada lowered their target price on shares of Impax Laboratories from $30.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Thursday. Deutsche Bank AG lowered their target price on shares of Impax Laboratories from $31.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, August 10th. Finally, Zacks Investment Research raised shares of Impax Laboratories from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.27.
Shares of Impax Laboratories (NASDAQ:IPXL) opened at 15.00 on Friday. The company’s market capitalization is $1.07 billion. The company has a 50-day moving average price of $21.49 and a 200 day moving average price of $27.23. Impax Laboratories has a one year low of $13.35 and a one year high of $45.00.
Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings data on Wednesday, November 9th. The specialty pharmaceutical company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The firm earned $228 million during the quarter, compared to the consensus estimate of $234.87 million. Impax Laboratories had a negative net margin of 19.93% and a positive return on equity of 11.34%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share.
Several large investors have recently added to or reduced their stakes in the stock. 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 valued at $112,000 after buying an additional 1,545 shares during the last quarter. Rational Advisors LLC bought a new stake in Impax Laboratories during the second quarter valued at $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 valued at $113,000 after buying an additional 2,600 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Impax Laboratories during the third quarter valued at $102,000. Finally, 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 valued at $154,000 after buying an additional 2,716 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.
In related news, Director Leslie Z. Benet sold 10,092 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $22.81, for a total value of $230,198.52. Following the completion of the sale, the director now owns 40,225 shares in the company, valued at $917,532.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.30% of the stock is currently owned by corporate 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.
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