Cantor Fitzgerald Reaffirms “Buy” Rating for Impax Laboratories, Inc. (IPXL)

Cantor Fitzgerald reaffirmed their buy rating on shares of Impax Laboratories, Inc. (NASDAQ:IPXL) in a research note issued to investors on Wednesday morning. The firm currently has a $20.00 target price on the specialty pharmaceutical company’s stock.

Several other analysts have also issued reports on the stock. Royal Bank Of Canada reissued an outperform rating and issued a $62.00 price target (up previously from $10.00) on shares of Impax Laboratories in a research report on Thursday, May 11th. Zacks Investment Research raised shares of Impax Laboratories from a hold rating to a buy rating and set a $19.00 price target on the stock in a research report on Tuesday, July 11th. BMO Capital Markets reissued a hold rating and issued a $16.00 price target on shares of Impax Laboratories in a research report on Friday, June 23rd. Deutsche Bank AG set a $21.00 price target on shares of Impax Laboratories and gave the company a buy rating in a research report on Monday, July 17th. Finally, BidaskClub raised shares of Impax Laboratories from a hold rating to a buy rating in a research report on Wednesday, July 12th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $17.85.

Impax Laboratories (IPXL) opened at 21.10 on Wednesday. The firm’s 50 day moving average is $18.65 and its 200-day moving average is $15.14. Impax Laboratories has a 12 month low of $7.75 and a 12 month high of $27.29. The firm’s market cap is $1.52 billion.

Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. Impax Laboratories had a negative net margin of 71.08% and a positive return on equity of 9.05%. The company had revenue of $202.08 million for the quarter, compared to analyst estimates of $195.62 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, equities analysts forecast that Impax Laboratories will post $0.70 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the business. Maverick Capital Ltd. grew its stake in Impax Laboratories by 6,705.5% in the 2nd quarter. Maverick Capital Ltd. now owns 7,159,336 shares of the specialty pharmaceutical company’s stock worth $115,265,000 after buying an additional 7,054,136 shares in the last quarter. Vanguard Group Inc. grew its stake in Impax Laboratories by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 6,821,118 shares of the specialty pharmaceutical company’s stock worth $109,820,000 after buying an additional 569,723 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Impax Laboratories by 23.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,244,580 shares of the specialty pharmaceutical company’s stock worth $52,238,000 after buying an additional 607,503 shares in the last quarter. North Tide Capital LLC grew its stake in Impax Laboratories by 50.0% in the 1st 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. Finally, Frontier Capital Management Co. LLC grew its stake in Impax Laboratories by 43.2% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,585,828 shares of the specialty pharmaceutical company’s stock worth $25,532,000 after buying an additional 478,168 shares in the last quarter. 86.26% of the stock is owned by institutional investors and hedge funds.

Impax Laboratories Company Profile

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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