Research analysts at Cantor Fitzgerald began coverage on shares of Impax Laboratories, Inc. (NASDAQ:IPXL) in a research report issued to clients and investors on Friday. The brokerage set an “overweight” rating and a $20.00 price target on the specialty pharmaceutical company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 37.46% from the company’s current price.
Several other research analysts have also recently issued reports on the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $15.00 price target on shares of Impax Laboratories in a report on Tuesday, June 13th. Janney Montgomery Scott reaffirmed a “neutral” rating and issued a $21.00 price target on shares of Impax Laboratories in a report on Monday, June 12th. Zacks Investment Research raised Impax Laboratories from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. Vetr cut Impax Laboratories from a “strong-buy” rating to a “strong sell” rating and set a $10.55 price target on the stock. in a report on Monday, May 1st. Finally, Deutsche Bank AG set a $15.00 price target on Impax Laboratories and gave the company a “buy” rating in a report on Wednesday, April 5th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Impax Laboratories currently has an average rating of “Hold” and a consensus price target of $17.84.
Impax Laboratories (NASDAQ IPXL) opened at 14.55 on Friday. The company has a 50-day moving average price of $15.24 and a 200 day moving average price of $13.22. The stock’s market capitalization is $1.04 billion. Impax Laboratories has a 1-year low of $7.75 and a 1-year high of $32.20.
Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The company had revenue of $184.40 million during the quarter, compared to the consensus estimate of $193.17 million. Impax Laboratories had a negative net margin of 71.50% and a positive return on equity of 7.71%. Impax Laboratories’s quarterly revenue was down 18.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 EPS. On average, equities analysts predict that Impax Laboratories will post $0.65 EPS for the current year.
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Several institutional investors have recently bought and sold shares of IPXL. Comerica Bank increased its position in Impax Laboratories by 5.0% in the fourth quarter. Comerica Bank now owns 78,608 shares of the specialty pharmaceutical company’s stock worth $1,010,000 after buying an additional 3,740 shares during the period. Oxford Asset Management increased its position in Impax Laboratories by 34.6% in the fourth quarter. Oxford Asset Management now owns 109,512 shares of the specialty pharmaceutical company’s stock worth $1,451,000 after buying an additional 28,172 shares during the period. Dimensional Fund Advisors LP increased its position in Impax Laboratories by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,791,702 shares of the specialty pharmaceutical company’s stock worth $23,739,000 after buying an additional 194,694 shares during the period. Federated Investors Inc. PA increased its position in Impax Laboratories by 1,660.5% in the fourth quarter. Federated Investors Inc. PA now owns 286,955 shares of the specialty pharmaceutical company’s stock worth $3,803,000 after buying an additional 270,655 shares during the period. Finally, Renaissance Technologies LLC increased its position in Impax Laboratories by 515.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,093,002 shares of the specialty pharmaceutical company’s stock worth $14,482,000 after buying an additional 915,302 shares during the period. 84.03% 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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