Piper Jaffray Companies upgraded shares of Impax Laboratories, Inc. (NASDAQ:IPXL) from an underweight rating to a neutral rating in a research note issued to investors on Tuesday, MarketBeat.com reports. Piper Jaffray Companies currently has $16.00 price objective on the specialty pharmaceutical company’s stock, up from their previous price objective of $9.00.

A number of other equities research analysts also recently issued reports on the company. Guggenheim reissued a buy rating and set a $20.00 price target on shares of Impax Laboratories in a research report on Monday, March 27th. Royal Bank Of Canada reissued an outperform rating and set a $62.00 price target (up previously from $10.00) on shares of Impax Laboratories in a research report on Thursday, May 11th. Deutsche Bank AG set a $15.00 price target on Impax Laboratories and gave the stock a buy rating in a research report on Wednesday, April 5th. BMO Capital Markets reissued a hold rating and set a $16.00 price target on shares of Impax Laboratories in a research report on Friday, June 23rd. Finally, Zacks Investment Research raised Impax Laboratories from a strong sell rating to a hold rating in a research report on Monday, May 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. Impax Laboratories currently has a consensus rating of Hold and an average price target of $18.60.

Impax Laboratories (NASDAQ:IPXL) opened at 18.15 on Tuesday. The company’s market cap is $1.30 billion. Impax Laboratories has a 52-week low of $7.75 and a 52-week high of $31.85. The company’s 50 day moving average price is $16.20 and its 200 day moving average price is $13.78.

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 Zacks’ consensus estimate of $0.12 by $0.01. The company had revenue of $184.40 million for the quarter, compared to analyst estimates of $193.17 million. Impax Laboratories had a positive return on equity of 7.71% and a negative net margin of 71.50%. The company’s quarterly revenue was down 18.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 EPS. Equities research analysts anticipate that Impax Laboratories will post $0.66 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another website, it was illegally copied and reposted in violation of US & international copyright laws. The legal version of this piece can be read at https://www.watchlistnews.com/impax-laboratories-inc-ipxl-rating-increased-to-neutral-at-piper-jaffray-companies/1455293.html.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DUPONT CAPITAL MANAGEMENT Corp boosted its position in shares of Impax Laboratories by 526.6% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 118,063 shares of the specialty pharmaceutical company’s stock worth $1,493,000 after buying an additional 99,222 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Impax Laboratories by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 8,140 shares of the specialty pharmaceutical company’s stock worth $102,000 after buying an additional 150 shares during the last quarter. Columbus Circle Investors purchased a new position in shares of Impax Laboratories during the first quarter worth approximately $532,000. Legato Capital Management LLC boosted its position in shares of 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 during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Impax Laboratories by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the specialty pharmaceutical company’s stock worth $380,000 after buying an additional 300 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

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), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

Receive News & Ratings for Impax Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impax Laboratories Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.