BMO Capital Markets restated their hold rating on shares of Impax Laboratories, Inc. (NASDAQ:IPXL) in a research note released on Friday. They currently have a $16.00 price target on the specialty pharmaceutical company’s stock.
Several other analysts also recently issued reports on the stock. Guggenheim reaffirmed a buy rating and issued a $20.00 price objective on shares of Impax Laboratories in a research report on Monday, March 27th. Royal Bank Of Canada reaffirmed an outperform rating and issued a $62.00 price objective (up previously from $10.00) on shares of Impax Laboratories in a research report on Thursday, May 11th. Susquehanna Bancshares Inc downgraded shares of Impax Laboratories from a positive rating to a neutral rating and lowered their price objective for the company from $18.00 to $10.00 in a research report on Wednesday, March 8th. They noted that the move was a valuation call. Deutsche Bank AG set a $15.00 price target on shares of Impax Laboratories and gave the stock a buy rating in a research report on Wednesday, April 5th. Finally, Zacks Investment Research raised shares of Impax Laboratories from a strong sell rating to a hold rating in a research report on Monday, May 8th. Four investment 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. The company presently has an average rating of Hold and an average price target of $17.70.
Shares of Impax Laboratories (NASDAQ IPXL) traded up 1.50% on Friday, reaching $16.95. 512,847 shares of the company were exchanged. The stock’s market capitalization is $1.21 billion. Impax Laboratories has a 1-year low of $7.75 and a 1-year high of $32.20. The company has a 50-day moving average price of $15.30 and a 200 day moving average price of $13.24.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data 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. Impax Laboratories had a negative net margin of 71.50% and a positive return on equity of 7.71%. The firm had revenue of $184.40 million during the quarter, compared to analyst estimates of $193.17 million. During the same period last year, the business earned $0.43 EPS. The firm’s revenue was down 18.2% compared to the same quarter last year. On average, analysts forecast that Impax Laboratories will post $0.65 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Impax Laboratories during the fourth quarter valued at about $16,669,000. Frontier Capital Management Co. LLC purchased a new position in shares of Impax Laboratories during the first quarter valued at about $14,012,000. North Tide Capital LLC boosted its position in shares of 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 valued at $37,950,000 after buying an additional 1,000,000 shares during the period. Renaissance Technologies LLC boosted its position in shares of 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 valued at $14,482,000 after buying an additional 915,302 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $33,359,000 after buying an additional 845,375 shares during the period. Hedge funds and other institutional investors own 83.84% of the company’s stock.
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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