According to Zacks, “The acquisitions of Tower and Lineage boosted Impax’s branded and generics portfolio. Impax’s generics pipeline should be able to take advantage of the upcoming patent expiries in the pharma industry. The acquisition of several generic products in Aug 2016 further added 18 generic products to the company’s portfolio including 15 currently marketed products thus boding positive for the company. However, Impax’s Generics segment has been under competitive pressure for Solaraze and Skelaxin, as well as due to lower sales of Adderall XR. Moreover, short-term Albenza supply interruption has impacted results at the Specialty segment. Estimates have been declining ahead of company’s Q4 results. Shares of Impax have underperformed the Generics-Drugs industry in the past one year. “
Several other equities analysts have also recently issued reports on IPXL. RBC Capital Markets reaffirmed a hold rating and issued a $15.00 price objective on shares of Impax Laboratories in a research note on Tuesday, January 3rd. Deutsche Bank AG reissued a hold rating and issued a $17.00 target price on shares of Impax Laboratories in a research report on Friday, December 23rd. Janney Montgomery Scott assumed coverage on shares of Impax Laboratories in a research report on Wednesday, December 28th. They issued a neutral rating and a $15.00 target price on the stock. Bank of America Corporation downgraded shares of Impax Laboratories from a neutral rating to an underperform rating and set a $19.00 target price on the stock. in a research report on Monday, November 7th. Finally, WallachBeth Capital downgraded shares of Impax Laboratories from a buy rating to a hold rating and dropped their target price for the stock from $30.00 to $18.00 in a research report on Monday, November 14th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $27.13.
Impax Laboratories (NASDAQ:IPXL) traded down 2.76% during midday trading on Tuesday, hitting $12.35. 1,602,132 shares of the stock traded hands. The firm’s market cap is $880.93 million. The company has a 50-day moving average price of $13.66 and a 200-day moving average price of $22.19. Impax Laboratories has a 1-year low of $11.88 and a 1-year high of $43.15.
Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings data on Wednesday, November 9th. The specialty pharmaceutical company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The business earned $228 million during the quarter, compared to analyst estimates of $234.87 million. Impax Laboratories had a positive return on equity of 11.34% and a negative net margin of 19.93%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. Analysts predict that Impax Laboratories will post $1.16 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in IPXL. Mesirow Financial Investment Management Equity Management bought a new position in shares of Impax Laboratories during the second quarter worth about $15,998,000. Victory Capital Management Inc. raised its position in shares of Impax Laboratories by 21.3% in the third quarter. Victory Capital Management Inc. now owns 1,238,790 shares of the specialty pharmaceutical company’s stock worth $29,359,000 after buying an additional 217,142 shares during the period. BlackRock Advisors LLC raised its position in shares of Impax Laboratories by 2.0% in the second quarter. BlackRock Advisors LLC now owns 97,790 shares of the specialty pharmaceutical company’s stock worth $2,818,000 after buying an additional 1,960 shares during the period. Acadian Asset Management LLC raised its position in shares of Impax Laboratories by 114.3% in the third quarter. Acadian Asset Management LLC now owns 264,783 shares of the specialty pharmaceutical company’s stock worth $6,275,000 after buying an additional 141,224 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Impax Laboratories by 17.1% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 206,400 shares of the specialty pharmaceutical company’s stock worth $4,892,000 after buying an additional 30,200 shares during the period. 84.22% of the stock is currently owned by institutional investors and hedge funds.
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), as well as the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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