Equities research analysts at Guggenheim started coverage on shares of Impax Laboratories (NASDAQ:IPXL) in a research note issued on Tuesday. The firm set a “neutral” rating and a $18.00 price target on the specialty pharmaceutical company’s stock. Guggenheim’s target price suggests a potential upside of 0.84% from the stock’s previous close.

IPXL has been the subject of a number of other reports. Zacks Investment Research downgraded Impax Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Cantor Fitzgerald raised their price objective on Impax Laboratories from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, September 11th. Cowen reissued a “hold” rating and set a $16.00 price objective on shares of Impax Laboratories in a research report on Friday, November 10th. Piper Jaffray Companies reissued a “hold” rating and set a $17.00 price objective on shares of Impax Laboratories in a research report on Sunday, September 17th. Finally, Royal Bank of Canada set a $17.00 price objective on Impax Laboratories and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. Impax Laboratories presently has an average rating of “Hold” and an average price target of $19.47.

Shares of Impax Laboratories (NASDAQ:IPXL) remained flat at $$17.85 during trading hours on Tuesday. The stock had a trading volume of 956,700 shares, compared to its average volume of 1,769,983. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.32 and a current ratio of 1.81. The stock has a market capitalization of $1,322.93, a price-to-earnings ratio of 26.25, a P/E/G ratio of 1.13 and a beta of 0.94. Impax Laboratories has a fifty-two week low of $7.75 and a fifty-two week high of $25.70.

Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $206.40 million during the quarter, compared to the consensus estimate of $208.38 million. Impax Laboratories had a positive return on equity of 9.06% and a negative net margin of 56.59%. The company’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the company earned $0.37 EPS. equities analysts predict that Impax Laboratories will post 0.63 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of Impax Laboratories by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 38,476 shares of the specialty pharmaceutical company’s stock valued at $619,000 after buying an additional 100 shares during the period. Texas Permanent School Fund boosted its stake in shares of Impax Laboratories by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 53,810 shares of the specialty pharmaceutical company’s stock valued at $866,000 after buying an additional 415 shares during the period. Bank of Montreal Can boosted its stake in shares of Impax Laboratories by 0.9% in the 2nd quarter. Bank of Montreal Can now owns 54,383 shares of the specialty pharmaceutical company’s stock valued at $875,000 after buying an additional 509 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Impax Laboratories by 3.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,410 shares of the specialty pharmaceutical company’s stock valued at $280,000 after buying an additional 530 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Impax Laboratories by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock valued at $111,000 after buying an additional 780 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

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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.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

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