Impax Laboratories (IPXL) Downgraded to Sector Perform at RBC Capital Markets

Impax Laboratories (IPXL) has been downgraded today by the research analysts at investment firm RBC Capital Markets which downgraded IPLX from a “sector perform” rating from “outperform.”  RBC Capital did not adjust their price target of $28 dollars on IPXL.  IPXL gapped down during the morning session however has recovered most of the morning loss.

Impax Laboratories is slated to release their next earnings report on August 3rd, 2011  and is estimated to post EPS of 22 cents.  Their last earnings report was released on May 3rd, 2011 and announced a EPS of 21 cents with revenue totaling $108.7 million which was down -66.4 % year to year.  IPXL is currently trading between its 50 & 200-day moving averages and 2011 is currently an up year for the company.

Impax Laboratories is a technology-based, specialty pharmaceutical company applying formulation and development expertise, as well as their drug delivery technology, to the development, manufacture and marketing of bioequivalent pharmaceutical products, commonly referred to as “generics,” in addition to the development of branded products.  The company has market capitalization of $1,723,000,000 and 64,819,000 shares outstanding.  IPXL has a 52-week high of $14.70 with the low being $14.70 dollars.

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