Impax Laboratories, Inc. (NASDAQ:IPXL) has been assigned a $15.00 price objective by equities researchers at Royal Bank Of Canada in a note issued to investors on Sunday. The firm currently has a “hold” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s price objective points to a potential downside of 17.13% from the stock’s current price.
Other equities analysts have also issued reports about the company. BidaskClub upgraded Impax Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Janney Montgomery Scott restated a “neutral” rating and set a $21.00 price target on shares of Impax Laboratories in a research note on Monday, June 12th. Zacks Investment Research upgraded Impax Laboratories from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, July 11th. Cantor Fitzgerald began coverage on Impax Laboratories in a research note on Friday, June 16th. They set an “overweight” rating and a $20.00 price target on the stock. Finally, Deutsche Bank AG set a $15.00 price target on Impax Laboratories and gave the company a “buy” rating in a research note on Wednesday, April 5th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $18.03.
Impax Laboratories (NASDAQ IPXL) traded up 8.06% during midday trading on Friday, hitting $18.10. 3,419,069 shares of the stock traded hands. Impax Laboratories has a 12 month low of $7.75 and a 12 month high of $31.85. The company’s 50 day moving average price is $15.78 and its 200 day moving average price is $13.40. The firm’s market cap is $1.30 billion.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $193.17 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The company’s revenue was down 18.2% on a year-over-year basis. Equities research analysts predict that Impax Laboratories will post $0.65 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank increased its position in shares of Impax Laboratories by 5.0% in the fourth quarter. Comerica Bank now owns 78,608 shares of the specialty pharmaceutical company’s stock valued at $1,010,000 after buying an additional 3,740 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 valued at $23,739,000 after buying an additional 194,694 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Impax Laboratories by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 103,960 shares of the specialty pharmaceutical company’s stock valued at $1,377,000 after buying an additional 800 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of Impax Laboratories by 2.9% in the fourth quarter. Guggenheim Capital LLC now owns 145,928 shares of the specialty pharmaceutical company’s stock valued at $1,934,000 after buying an additional 4,144 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Impax Laboratories during the fourth quarter valued at approximately $16,669,000. 83.87% 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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