Impax Laboratories Inc. (NASDAQ:IPXL) has been given a consensus rating of “Hold” by the seventeen research firms that are currently covering the firm. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $28.71.

A number of equities research analysts recently weighed in on the company. TheStreet cut Impax Laboratories from a “hold” rating to a “sell” rating in a report on Friday, November 11th. WallachBeth Capital cut Impax Laboratories from a “buy” rating to a “hold” rating and dropped their price target for the company from $30.00 to $18.00 in a report on Monday. RBC Capital Markets reaffirmed a “sector perform” rating and set a $18.00 price target (down from $30.00) on shares of Impax Laboratories in a report on Thursday, November 10th. Royal Bank Of Canada dropped their price target on Impax Laboratories from $30.00 to $18.00 and set a “sector perform” rating for the company in a report on Thursday, November 10th. Finally, Bank of America Corp. cut Impax Laboratories from a “neutral” rating to an “underperform” rating and set a $19.00 price target for the company. in a report on Monday, November 7th.

Shares of Impax Laboratories (NASDAQ:IPXL) opened at 14.30 on Friday. The stock’s 50 day moving average price is $20.85 and its 200-day moving average price is $26.84. The firm’s market capitalization is $1.02 billion. Impax Laboratories has a 12 month low of $13.35 and a 12 month high of $45.00.

Impax Laboratories (NASDAQ:IPXL) last issued its earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.02. Impax Laboratories had a positive return on equity of 11.34% and a negative net margin of 19.93%. The company earned $228 million during the quarter, compared to analyst estimates of $234.87 million. During the same period in the previous year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities research analysts predict that Impax Laboratories will post $1.16 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position 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 in the last quarter. BlackRock Group LTD raised its position in Impax Laboratories by 14.2% in the first quarter. BlackRock Group LTD now owns 90,977 shares of the specialty pharmaceutical company’s stock valued at $2,914,000 after buying an additional 11,347 shares in the last quarter. UBS Group AG raised its position in Impax Laboratories by 2.0% in the first quarter. UBS Group AG now owns 38,427 shares of the specialty pharmaceutical company’s stock valued at $1,230,000 after buying an additional 742 shares in the last quarter. Pictet Asset Management Ltd. raised its position in Impax Laboratories by 2.4% in the first quarter. Pictet Asset Management Ltd. now owns 111,700 shares of the specialty pharmaceutical company’s stock valued at $3,652,000 after buying an additional 2,600 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Impax Laboratories by 94.7% in the first quarter. Goldman Sachs Group Inc. now owns 211,817 shares of the specialty pharmaceutical company’s stock valued at $6,782,000 after buying an additional 103,030 shares in the last quarter. Hedge funds and other institutional investors own 88.84% of the company’s stock.

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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