Impax Laboratories (IPXL) Upgraded by BidaskClub to Sell
BidaskClub upgraded shares of Impax Laboratories (NASDAQ:IPXL) from a strong sell rating to a sell rating in a research report released on Saturday.
A number of other research analysts also recently issued reports on IPXL. Goldman Sachs Group began coverage on Impax Laboratories in a report on Thursday, September 28th. They set a neutral rating and a $20.00 price objective for the company. Cantor Fitzgerald reiterated a buy rating and set a $25.00 price objective on shares of Impax Laboratories in a report on Monday, September 25th. Zacks Investment Research downgraded Impax Laboratories from a hold rating to a sell rating in a report on Tuesday, January 2nd. Royal Bank of Canada set a $17.00 price objective on Impax Laboratories and gave the stock a hold rating in a report on Tuesday, October 17th. Finally, Canaccord Genuity set a $19.00 price objective on Impax Laboratories and gave the stock a hold rating in a report on Tuesday, October 17th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $19.62.
Impax Laboratories (NASDAQ:IPXL) traded up $0.60 during trading hours on Friday, hitting $19.10. The company had a trading volume of 727,105 shares, compared to its average volume of 930,620. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.32 and a current ratio of 1.81. The company has a market capitalization of $1,415.58, a P/E ratio of -3.06, a PEG ratio of 1.01 and a beta of 0.94. Impax Laboratories has a fifty-two week low of $7.75 and a fifty-two week high of $25.70.
Hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its stake in Impax Laboratories by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock valued at $111,000 after purchasing an additional 780 shares in the last quarter. Amalgamated Bank bought a new position in Impax Laboratories in the third quarter valued at approximately $201,000. Stevens Capital Management LP bought a new position in Impax Laboratories in the third quarter valued at approximately $203,000. Quantbot Technologies LP grew its stake in Impax Laboratories by 279.0% in the third quarter. Quantbot Technologies LP now owns 10,031 shares of the specialty pharmaceutical company’s stock valued at $203,000 after purchasing an additional 7,384 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in Impax Laboratories in the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 90.48% of the company’s stock.
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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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