Leerink Swann Comments on Impax Laboratories Inc’s FY2017 Earnings (IPXL)

Impax Laboratories Inc (NASDAQ:IPXL) – Investment analysts at Leerink Swann issued their FY2017 earnings per share estimates for shares of Impax Laboratories in a research note issued to investors on Tuesday. Leerink Swann analyst A. Fadia forecasts that the specialty pharmaceutical company will post earnings of $0.65 per share for the year. Leerink Swann currently has a “Outperform” rating and a $22.00 target price on the stock. Leerink Swann also issued estimates for Impax Laboratories’ Q4 2017 earnings at $0.13 EPS, FY2018 earnings at $1.15 EPS, FY2019 earnings at $1.45 EPS, FY2020 earnings at $1.64 EPS and FY2021 earnings at $1.89 EPS.

Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $206.40 million during the quarter, compared to the consensus estimate of $208.38 million. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share.

Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Impax Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday. Canaccord Genuity set a $19.00 price target on shares of Impax Laboratories and gave the stock a “hold” rating in a research note on Monday, December 18th. Cantor Fitzgerald set a $35.00 price target on shares of Impax Laboratories and gave the stock a “buy” rating in a research note on Friday, December 15th. Guggenheim began coverage on shares of Impax Laboratories in a research note on Tuesday, December 12th. They issued a “neutral” rating and a $18.00 price target for the company. Finally, Cowen reissued a “hold” rating and issued a $16.00 price target on shares of Impax Laboratories in a research note on Friday, November 10th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $19.62.

Shares of Impax Laboratories (NASDAQ IPXL) opened at $17.25 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.81 and a quick ratio of 1.32. The firm has a market cap of $1,296.99, a price-to-earnings ratio of -2.76, a price-to-earnings-growth ratio of 0.70 and a beta of 0.94. Impax Laboratories has a one year low of $7.75 and a one year high of $25.70.

Several large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in Impax Laboratories by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock worth $111,000 after buying an additional 780 shares in the last quarter. Amalgamated Bank bought a new position in Impax Laboratories in the third quarter worth about $201,000. Stevens Capital Management LP bought a new position in Impax Laboratories in the third quarter worth about $203,000. Quantbot Technologies LP raised its stake in Impax Laboratories by 279.0% in the third quarter. Quantbot Technologies LP now owns 10,031 shares of the specialty pharmaceutical company’s stock worth $203,000 after buying an additional 7,384 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in Impax Laboratories in the second quarter worth about $207,000. 90.48% of the stock is owned by hedge funds and other institutional investors.

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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.

Earnings History and Estimates for Impax Laboratories (NASDAQ:IPXL)

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