Impax Laboratories, Inc. (NASDAQ:IPXL) has been assigned a $20.00 price objective by equities researchers at Cowen and Company in a research note issued on Wednesday. The brokerage currently has a “hold” rating on the specialty pharmaceutical company’s stock. Cowen and Company’s price objective indicates a potential upside of 20.85% from the company’s current price.
Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Impax Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research downgraded shares of Impax Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. BMO Capital Markets reissued a “hold” rating and set a $16.00 target price on shares of Impax Laboratories in a research report on Friday, June 23rd. Janney Montgomery Scott reissued a “neutral” rating and set a $21.00 target price on shares of Impax Laboratories in a research report on Monday, June 12th. Finally, Cantor Fitzgerald began coverage on shares of Impax Laboratories in a research report on Friday, June 16th. They set an “overweight” rating and a $20.00 target price on the stock. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. Impax Laboratories has an average rating of “Hold” and an average target price of $18.70.
Shares of Impax Laboratories (NASDAQ IPXL) opened at 16.55 on Wednesday. The company’s market cap is $1.18 billion. Impax Laboratories has a 1-year low of $7.75 and a 1-year high of $27.29. The company’s 50-day moving average is $17.23 and its 200 day moving average is $14.27.
Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The company had revenue of $202.08 million for the quarter, compared to the consensus estimate of $195.62 million. Impax Laboratories had a negative net margin of 71.50% and a positive return on equity of 7.71%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 EPS. Equities analysts anticipate that Impax Laboratories will post $0.66 EPS for the current year.
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Several hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new stake in Impax Laboratories during the fourth quarter worth $224,000. State of Wisconsin Investment Board purchased a new stake in Impax Laboratories during the first quarter worth $1,577,000. Legato Capital Management LLC boosted its stake in Impax Laboratories by 1,165.0% in the first quarter. Legato Capital Management LLC now owns 29,892 shares of the specialty pharmaceutical company’s stock worth $2,363,000 after buying an additional 27,529 shares in the last quarter. American Century Companies Inc. purchased a new stake in Impax Laboratories during the first quarter worth $1,195,000. Finally, Sector Gamma AS boosted its stake in Impax Laboratories by 7.0% in the first quarter. Sector Gamma AS now owns 534,311 shares of the specialty pharmaceutical company’s stock worth $6,759,000 after buying an additional 35,158 shares in the last quarter. Institutional investors and hedge funds own 83.48% 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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