TheStreet Lowers Impax Laboratories Inc. (IPXL) to Sell
Several other research firms have also recently issued reports on IPXL. WallachBeth Capital cut shares of Impax Laboratories from a buy rating to a hold rating and lowered their price objective for the company from $30.00 to $18.00 in a research report on Monday. Leerink Swann lowered their price target on shares of Impax Laboratories from $33.00 to $24.00 and set a market perform rating for the company in a research report on Wednesday, August 10th. RBC Capital Markets reaffirmed a sector perform rating and issued a $18.00 price target (down previously from $30.00) on shares of Impax Laboratories in a research report on Thursday, November 10th. Goldman Sachs Group Inc. raised shares of Impax Laboratories from a sell rating to a neutral rating and upped their price target for the stock from $25.00 to $26.00 in a research report on Tuesday, September 27th. Finally, Zacks Investment Research raised shares of Impax Laboratories from a hold rating to a buy rating and set a $25.00 price target for the company in a research report on Thursday, October 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. Impax Laboratories presently has an average rating of Hold and an average target price of $29.47.
Shares of Impax Laboratories (NASDAQ:IPXL) opened at 14.30 on Friday. The firm has a 50-day moving average of $20.85 and a 200-day moving average of $26.84. Impax Laboratories has a 52-week low of $13.35 and a 52-week high of $45.00. The company’s market cap is $1.02 billion.
Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings data on Wednesday, November 9th. The specialty pharmaceutical company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.02. The company earned $228 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. Equities research analysts forecast that Impax Laboratories will post $1.16 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in IPXL. Walleye Trading LLC increased its stake in shares of 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 during the period. Rational Advisors LLC purchased a new stake in shares of Impax Laboratories during the second quarter worth about $112,000. Acrospire Investment Management LLC increased its stake in shares of 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 during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Impax Laboratories during the third quarter worth about $102,000. Finally, BlackRock Inc. increased its stake in shares of 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 during the period. 88.84% of the stock is currently owned by hedge funds and other institutional investors.
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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