Impax Laboratories, Inc. (IPXL) PT Raised to $35.00 at Cantor Fitzgerald
Impax Laboratories, Inc. (NASDAQ:IPXL) had its target price lifted by analysts at Cantor Fitzgerald from $25.00 to $35.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “overweight” rating on the specialty pharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 91.26% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the stock. UBS AG raised their price objective on shares of Impax Laboratories from $12.00 to $16.00 and gave the company a “sell” rating in a research note on Monday, October 30th. Zacks Investment Research lowered shares of Impax Laboratories from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Royal Bank Of Canada set a $17.00 target price on shares of Impax Laboratories and gave the stock a “hold” rating in a report on Tuesday, October 17th. Canaccord Genuity set a $19.00 target price on shares of Impax Laboratories and gave the stock a “hold” rating in a report on Tuesday, October 17th. Finally, Goldman Sachs Group, Inc. (The) started coverage on shares of Impax Laboratories in a report on Thursday, September 28th. They issued a “neutral” rating and a $20.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $19.50.
Shares of Impax Laboratories (IPXL) traded up $1.15 during mid-day trading on Friday, reaching $18.30. 1,388,800 shares of the company’s stock were exchanged, compared to its average volume of 1,871,831. Impax Laboratories has a 1 year low of $7.75 and a 1 year high of $25.70. The company has a market capitalization of $1,356.28, a PE ratio of 26.91, a PEG ratio of 1.13 and a beta of 0.99. The company has a current ratio of 1.81, a quick ratio of 1.32 and a debt-to-equity ratio of 1.59.
Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. The firm had revenue of $206.40 million for the quarter, compared to analysts’ expectations of $208.38 million. During the same period last year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. analysts forecast that Impax Laboratories will post 0.64 EPS for the current year.
Several large investors have recently modified their holdings of IPXL. Swiss National Bank grew its position in Impax Laboratories by 15.3% in the second quarter. Swiss National Bank now owns 116,900 shares of the specialty pharmaceutical company’s stock valued at $1,882,000 after purchasing an additional 15,500 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Impax Laboratories by 3.2% in the second quarter. Great West Life Assurance Co. Can now owns 106,856 shares of the specialty pharmaceutical company’s stock valued at $1,715,000 after purchasing an additional 3,350 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Impax Laboratories by 56.4% in the second quarter. BNP Paribas Arbitrage SA now owns 23,498 shares of the specialty pharmaceutical company’s stock valued at $378,000 after purchasing an additional 8,469 shares in the last quarter. Vanguard Group Inc. grew its position in Impax Laboratories by 4.6% in the first quarter. Vanguard Group Inc. now owns 6,251,395 shares of the specialty pharmaceutical company’s stock valued at $79,080,000 after purchasing an additional 276,765 shares in the last quarter. Finally, Fisher Asset Management LLC bought a new position in Impax Laboratories in the third quarter valued at $30,329,000. Institutional investors and hedge funds own 88.32% 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), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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