Guggenheim began coverage on shares of Impax Laboratories (NASDAQ:IPXL) in a research note released on Tuesday morning. The brokerage issued a neutral rating and a $18.00 price objective on the specialty pharmaceutical company’s stock.

A number of other equities analysts also recently issued reports on the company. Cowen reaffirmed a hold rating and set a $16.00 price target on shares of Impax Laboratories in a research report on Friday, November 10th. Cantor Fitzgerald upped their target price on Impax Laboratories from $25.00 to $35.00 and gave the company an overweight rating in a research report on Friday, November 10th. UBS upped their target price on Impax Laboratories from $12.00 to $16.00 and gave the company a sell rating in a research report on Monday, October 30th. Zacks Investment Research downgraded Impax Laboratories from a hold rating to a sell rating in a research report on Friday, October 20th. Finally, Royal Bank of Canada set a $17.00 target price on Impax Laboratories and gave the company a hold rating in a research report on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $19.47.

Shares of Impax Laboratories (NASDAQ IPXL) traded up $1.20 during mid-day trading on Tuesday, hitting $17.85. The stock had a trading volume of 1,067,800 shares, compared to its average volume of 1,773,386. The firm has a market capitalization of $1,233.99, a P/E ratio of 24.49, a PEG ratio of 1.05 and a beta of 0.94. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.32 and a current ratio of 1.81. Impax Laboratories has a 1-year low of $7.75 and a 1-year high of $25.70.

Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $206.40 million for the quarter, compared to the consensus estimate of $208.38 million. Impax Laboratories had a positive return on equity of 9.06% and a negative net margin of 56.59%. The business’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. sell-side analysts forecast that Impax Laboratories will post 0.63 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in IPXL. Swiss National Bank boosted its stake in shares of Impax Laboratories by 15.3% during the 2nd quarter. Swiss National Bank now owns 116,900 shares of the specialty pharmaceutical company’s stock worth $1,882,000 after acquiring an additional 15,500 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Impax Laboratories by 3.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 106,856 shares of the specialty pharmaceutical company’s stock worth $1,715,000 after acquiring an additional 3,350 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Impax Laboratories by 56.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 23,498 shares of the specialty pharmaceutical company’s stock worth $378,000 after acquiring an additional 8,469 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Impax Laboratories during the 3rd quarter worth about $30,329,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Impax Laboratories during the 3rd quarter worth about $346,000. 90.79% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

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