Impax Laboratories Inc. (NASDAQ:IPXL) was downgraded by analysts at WallachBeth Capital from a “buy” rating to a “hold” rating in a research report issued on Monday. They presently have a $18.00 target price on the specialty pharmaceutical company’s stock, down from their previous target price of $30.00. WallachBeth Capital’s target price points to a potential upside of 25.87% from the company’s current price.

IPXL has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Impax Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, October 17th. Goldman Sachs Group Inc. raised shares of Impax Laboratories from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $25.00 to $26.00 in a research report on Tuesday, September 27th. Deutsche Bank AG cut their price objective 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. Northland Securities raised 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 report on Monday, August 15th. Finally, Bank of America Corp. downgraded shares of Impax Laboratories from a “neutral” rating to an “underperform” rating and set a $19.00 price objective on the stock. in a research report on Monday, November 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.47.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

Impax Laboratories (NASDAQ:IPXL) traded down 1.05% on Monday, reaching $14.15. 44,414 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $20.85 and a 200 day moving average price of $26.84. Impax Laboratories has a 12-month low of $13.35 and a 12-month high of $45.00. The stock’s market cap is $1.01 billion.

Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data 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. Impax Laboratories had a positive return on equity of 11.34% and a negative net margin of 19.93%. The firm earned $228 million during the quarter, compared to analysts’ expectations of $234.87 million. During the same period in the previous year, the firm earned $0.40 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. Analysts forecast that Impax Laboratories will post $1.16 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Cornerstone Capital Management Holdings LLC. boosted its position in Impax Laboratories by 111.0% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 251,786 shares of the specialty pharmaceutical company’s stock valued at $5,966,000 after buying an additional 132,479 shares in the last quarter. Verition Fund Management LLC bought a new position in Impax Laboratories during the third quarter worth $285,000. Panagora Asset Management Inc. boosted its position in Impax Laboratories by 45.7% in the third quarter. Panagora Asset Management Inc. now owns 478,308 shares of the specialty pharmaceutical company’s stock worth $11,336,000 after buying an additional 150,028 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in Impax Laboratories by 66.5% in the third quarter. D. E. Shaw & Co. Inc. now owns 96,341 shares of the specialty pharmaceutical company’s stock worth $2,284,000 after buying an additional 38,487 shares in the last quarter. Finally, Iguana Healthcare Management LLC bought a new position in Impax Laboratories during the third quarter worth $2,370,000. Hedge funds and other institutional investors own 88.84% 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.

5 Day Chart for NASDAQ:IPXL

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