Cantor Fitzgerald Increases Impax Laboratories, Inc. (IPXL) Price Target to $25.00
Impax Laboratories, Inc. (NASDAQ:IPXL) had its price objective increased by Cantor Fitzgerald from $20.00 to $25.00 in a research note issued to investors on Monday. The firm currently has an overweight rating on the specialty pharmaceutical company’s stock.
IPXL has been the subject of several other reports. Deutsche Bank AG set a $21.00 price target on Impax Laboratories and gave the stock a buy rating in a report on Monday, July 17th. Zacks Investment Research cut Impax Laboratories from a hold rating to a strong sell rating in a report on Monday, July 24th. BMO Capital Markets reissued a hold rating and set a $16.00 price target on shares of Impax Laboratories in a report on Friday, June 23rd. Royal Bank Of Canada set a $17.00 price target on Impax Laboratories and gave the stock a hold rating in a report on Thursday, August 10th. Finally, Piper Jaffray Companies raised Impax Laboratories from an underweight rating to a neutral rating and lifted their price target for the stock from $9.00 to $16.00 in a report on Tuesday, July 18th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $18.16.
Impax Laboratories (NASDAQ:IPXL) opened at 21.50 on Monday. Impax Laboratories has a 52 week low of $7.75 and a 52 week high of $27.29. The company has a 50 day moving average price of $19.01 and a 200-day moving average price of $15.36. The firm’s market capitalization is $1.54 billion.
Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The business had revenue of $202.08 million during the quarter, compared to analysts’ expectations of $195.62 million. Impax Laboratories had a positive return on equity of 9.05% and a negative net margin of 71.08%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. Equities analysts predict that Impax Laboratories will post $0.70 earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of the company. Maverick Capital Ltd. raised its holdings in shares of Impax Laboratories by 6,705.5% during the 2nd quarter. Maverick Capital Ltd. now owns 7,159,336 shares of the specialty pharmaceutical company’s stock worth $115,265,000 after buying an additional 7,054,136 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Impax Laboratories by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,821,118 shares of the specialty pharmaceutical company’s stock worth $109,820,000 after buying an additional 569,723 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Impax Laboratories by 23.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,244,580 shares of the specialty pharmaceutical company’s stock worth $52,238,000 after buying an additional 607,503 shares in the last quarter. North Tide Capital LLC raised its holdings in shares of Impax Laboratories by 50.0% during the 1st quarter. North Tide Capital LLC now owns 3,000,000 shares of the specialty pharmaceutical company’s stock worth $37,950,000 after buying an additional 1,000,000 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of Impax Laboratories by 43.2% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,585,828 shares of the specialty pharmaceutical company’s stock worth $25,532,000 after buying an additional 478,168 shares in the last quarter. 86.26% 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), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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