Shares of Impax Laboratories Inc (NASDAQ:IPXL) have received an average rating of “Hold” from the sixteen analysts that are covering the stock. Four investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $22.97.
IPXL has been the topic of several recent research reports. Piper Jaffray Companies cut Impax Laboratories from a “neutral” rating to an “underweight” rating and set a $7.00 target price on the stock. in a report on Wednesday, March 1st. Royal Bank of Canada lowered their target price on Impax Laboratories from $15.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, March 2nd. Zacks Investment Research cut Impax Laboratories from a “buy” rating to a “strong sell” rating in a report on Monday, March 6th. Deutsche Bank AG upgraded Impax Laboratories from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Wednesday, March 8th. Finally, Susquehanna Bancshares Inc cut Impax Laboratories from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $10.00 in a report on Wednesday, March 8th. They noted that the move was a valuation call.
Shares of Impax Laboratories (NASDAQ:IPXL) opened at 15.75 on Monday. Impax Laboratories has a one year low of $7.75 and a one year high of $35.24. The stock’s market cap is $1.13 billion. The company has a 50-day moving average price of $14.01 and a 200 day moving average price of $13.29.
Impax Laboratories (NASDAQ:IPXL) last issued its earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The company had revenue of $184.40 million for the quarter, compared to analyst estimates of $193.17 million. Impax Laboratories had a positive return on equity of 11.34% and a negative net margin of 19.93%. The company’s revenue for the quarter was down 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Equities research analysts expect that Impax Laboratories will post $0.65 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake 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 worth $79,080,000 after buying an additional 276,765 shares in the last quarter. North Tide Capital LLC raised its stake in Impax Laboratories by 50.0% in the first 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. Dimensional Fund Advisors LP raised its stake in Impax Laboratories by 47.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,637,077 shares of the specialty pharmaceutical company’s stock worth $33,359,000 after buying an additional 845,375 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Impax Laboratories by 1.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,759,121 shares of the specialty pharmaceutical company’s stock worth $41,691,000 after buying an additional 28,933 shares in the last quarter. Finally, Norges Bank bought a new stake in Impax Laboratories during the fourth quarter worth $16,669,000. 84.47% 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), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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