Impax Laboratories, Inc. (NASDAQ:IPXL)’s share price shot up 6.2% on Monday after Cantor Fitzgerald raised their price target on the stock from $20.00 to $25.00. Cantor Fitzgerald currently has an overweight rating on the stock. Impax Laboratories traded as high as $22.60 and last traded at $22.40. 1,076,609 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 1,738,160 shares. The stock had previously closed at $21.10.

Several other equities research analysts also recently commented on IPXL. Canaccord Genuity assumed coverage on shares of Impax Laboratories in a report on Monday, July 31st. They set a “hold” rating and a $19.00 price objective on the stock. Zacks Investment Research downgraded shares of Impax Laboratories from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Deutsche Bank AG set a $21.00 price objective on shares of Impax Laboratories and gave the company a “buy” rating in a report on Monday, July 17th. Piper Jaffray Companies raised shares of Impax Laboratories from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $9.00 to $16.00 in a report on Tuesday, July 18th. Finally, BidaskClub raised shares of Impax Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $18.16.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System increased its position in shares of Impax Laboratories by 0.3% during the second quarter. Arizona State Retirement System now owns 38,476 shares of the specialty pharmaceutical company’s stock valued at $619,000 after buying an additional 100 shares during the period. State of Alaska Department of Revenue increased its position in shares of Impax Laboratories by 1.9% during the first quarter. State of Alaska Department of Revenue now owns 8,140 shares of the specialty pharmaceutical company’s stock valued at $102,000 after buying an additional 150 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Impax Laboratories by 1.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,414 shares of the specialty pharmaceutical company’s stock valued at $182,000 after buying an additional 171 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Impax Laboratories by 1.7% during the first quarter. Municipal Employees Retirement System of Michigan now owns 16,880 shares of the specialty pharmaceutical company’s stock valued at $214,000 after buying an additional 280 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in shares of Impax Laboratories by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the specialty pharmaceutical company’s stock valued at $380,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 86.26% of the company’s stock.

The company’s market cap is $1.61 billion. The firm’s 50 day moving average is $18.66 and its 200 day moving average is $15.15.

Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.04. Impax Laboratories had a positive return on equity of 9.05% and a negative net margin of 71.08%. The firm had revenue of $202.08 million for the quarter, compared to analysts’ expectations of $195.62 million. During the same period in the previous year, the firm earned $0.21 EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis. On average, equities analysts predict that Impax Laboratories, Inc. will post $0.70 EPS for the current year.

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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), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.

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