Impax Laboratories, Inc. (IPXL) Lifted to “Hold” at Zacks Investment Research
According to Zacks, “The acquisitions of Tower and Lineage boosted Impax’s branded and generics portfolio. Impax’s generics pipeline should be able to take advantage of the upcoming patent expiries in the pharma industry. The acquisition of several generic products in Aug 2016 further added 18 generic products to the company’s portfolio including 15 currently marketed products thus boding positive for the company. However, Impax’s Generics segment has been under competitive pressure for Solaraze and Skelaxin, as well as due to lower sales of Adderall XR. Moreover, short-term Albenza supply interruption has impacted results at the Specialty segment. Estimates have been declining ahead of company’s Q4 results. Shares of Impax have underperformed the Generics-Drugs industry in the past one year. “
IPXL has been the subject of a number of other reports. WallachBeth Capital downgraded Impax Laboratories from a buy rating to a hold rating and decreased their target price for the company from $30.00 to $18.00 in a research note on Monday, November 14th. Goldman Sachs Group, Inc. (The) upgraded Impax Laboratories from a sell rating to a neutral rating and lifted their target price for the company from $25.00 to $26.00 in a research note on Tuesday, September 27th. RBC Capital Markets restated a hold rating and issued a $15.00 target price on shares of Impax Laboratories in a research note on Tuesday, January 3rd. Deutsche Bank AG restated a hold rating and issued a $17.00 target price on shares of Impax Laboratories in a research note on Friday, December 23rd. Finally, Janney Montgomery Scott initiated coverage on Impax Laboratories in a research note on Wednesday, December 28th. They issued a neutral rating and a $15.00 target price for the company. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $27.13.
Impax Laboratories (NASDAQ:IPXL) traded up 4.118% during trading on Tuesday, reaching $13.275. The company had a trading volume of 1,396,781 shares. Impax Laboratories has a 52-week low of $11.88 and a 52-week high of $40.74. The company has a 50-day moving average of $13.66 and a 200-day moving average of $22.20. The firm’s market capitalization is $946.91 million.
Impax Laboratories (NASDAQ:IPXL) last issued its earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.02. Impax Laboratories had a negative net margin of 19.93% and a positive return on equity of 11.34%. The company earned $228 million during the quarter, compared to analyst estimates of $234.87 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. Analysts expect that Impax Laboratories will post $1.16 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of IPXL. Scout Investments Inc. boosted its position in Impax Laboratories by 3.3% in the third quarter. Scout Investments Inc. now owns 113,275 shares of the specialty pharmaceutical company’s stock valued at $2,685,000 after buying an additional 3,650 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Impax Laboratories by 19.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 23,850 shares of the specialty pharmaceutical company’s stock valued at $565,000 after buying an additional 3,810 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in Impax Laboratories by 111.0% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 251,786 shares of the specialty pharmaceutical company’s stock valued at $5,966,000 after buying an additional 132,479 shares in the last quarter. Verition Fund Management LLC bought a new position in Impax Laboratories during the third quarter valued at about $285,000. Finally, Panagora Asset Management Inc. boosted its position in Impax Laboratories by 45.7% in the third quarter. Panagora Asset Management Inc. now owns 478,308 shares of the specialty pharmaceutical company’s stock valued at $11,336,000 after buying an additional 150,028 shares in the last quarter. 84.22% of the stock is currently owned by institutional investors.
Impax Laboratories Company Profile
Impax Laboratories, Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), as well as the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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