Leerink Swann Research Analysts Lower Earnings Estimates for Impax Laboratories Inc. (IPXL)
Impax Laboratories Inc. (NASDAQ:IPXL) – Leerink Swann reduced their FY2016 earnings estimates for shares of Impax Laboratories in a research report issued to clients and investors on Thursday. Leerink Swann analyst J. Gerberry now forecasts that the firm will earn $1.12 per share for the year, down from their prior estimate of $1.56. Leerink Swann has a “Market Perform” rating and a $24.00 price objective on the stock. Leerink Swann also issued estimates for Impax Laboratories’ Q4 2016 earnings at $0.11 EPS, Q4 2017 earnings at $0.21 EPS, FY2017 earnings at $1.69 EPS, FY2018 earnings at $1.93 EPS, FY2019 earnings at $1.96 EPS and FY2020 earnings at $1.86 EPS.
Several other equities research analysts also recently weighed in 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 for the company. in a research report on Monday, November 7th. WallachBeth Capital dropped their target price on shares of Impax Laboratories from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. Deutsche Bank AG lowered their price objective on shares of Impax Laboratories from $31.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, August 10th. Royal Bank Of Canada lowered their price objective on shares of Impax Laboratories from $35.00 to $30.00 and set a “sector perform” rating for the company 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 price objective for the company in a research report on Thursday, October 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Impax Laboratories currently has an average rating of “Hold” and an average target price of $30.27.
Shares of Impax Laboratories (NASDAQ:IPXL) opened at 15.00 on Monday. The firm’s market capitalization is $1.07 billion. The stock’s 50 day moving average is $21.49 and its 200-day moving average is $27.23. Impax Laboratories has a 52-week low of $13.35 and a 52-week 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 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.02. The firm earned $228 million during the quarter, compared to analyst estimates of $234.87 million. Impax Laboratories had a negative net margin of 19.93% and a positive return on equity of 11.34%. Impax Laboratories’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS.
Several hedge funds have recently modified their holdings of IPXL. Catalyst Capital Advisors LLC bought a new stake in shares of Impax Laboratories during the third quarter worth $102,000. Rational Advisors LLC acquired a new stake in Impax Laboratories during the second quarter valued at approximately $112,000. Walleye Trading LLC raised 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 in the last quarter. Acrospire Investment Management LLC raised 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 in the last quarter. Finally, Nisa Investment Advisors LLC raised 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 valued at $137,000 after buying an additional 5,000 shares in the last quarter. 88.88% of the stock is owned by institutional investors.
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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