Impax Laboratories, Inc. (IPXL) Receives Average Recommendation of “Hold” from Brokerages
Shares of Impax Laboratories, Inc. (NASDAQ:IPXL) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $19.37.
IPXL has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $25.00 price target on shares of Impax Laboratories in a research report on Monday, September 25th. BTIG Research restated a “buy” rating and set a $27.00 price target (up from $20.00) on shares of Impax Laboratories in a research report on Saturday, September 23rd. Deutsche Bank restated a “buy” rating and set a $23.00 price target on shares of Impax Laboratories in a research report on Tuesday, September 19th. Citigroup boosted their price target on shares of Impax Laboratories to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, September 19th. Finally, Zacks Investment Research upgraded shares of Impax Laboratories from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Monday, October 16th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank raised its holdings in shares of Impax Laboratories by 15.3% in the 2nd quarter. Swiss National Bank now owns 116,900 shares of the specialty pharmaceutical company’s stock worth $1,882,000 after purchasing an additional 15,500 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Impax Laboratories by 3.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 106,856 shares of the specialty pharmaceutical company’s stock worth $1,715,000 after purchasing an additional 3,350 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Impax Laboratories by 56.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 23,498 shares of the specialty pharmaceutical company’s stock worth $378,000 after purchasing an additional 8,469 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Impax Laboratories in the 3rd quarter worth approximately $30,329,000. Finally, Vanguard Group Inc. raised its holdings in shares of Impax Laboratories by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 6,251,395 shares of the specialty pharmaceutical company’s stock worth $79,080,000 after purchasing an additional 276,765 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.
Shares of Impax Laboratories (NASDAQ:IPXL) opened at $15.85 on Thursday. Impax Laboratories has a 52-week low of $7.75 and a 52-week high of $25.70. The company has a market cap of $1,185.82, a PE ratio of 23.53, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.32 and a current ratio of 1.81.
Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. The company had revenue of $206.40 million for the quarter, compared to the consensus estimate of $208.38 million. During the same period in the previous year, the firm earned $0.37 EPS. Impax Laboratories’s revenue was down 9.4% on a year-over-year basis. sell-side analysts anticipate that Impax Laboratories will post 0.63 earnings per share for the current fiscal year.
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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.
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