Insider Selling: Impax Laboratories Director Sells 1,500 Shares of Stock (IPXL)
Impax Laboratories (NASDAQ:IPXL) Director Robert Burr sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $20.87, for a total transaction of $31,305.00. Following the transaction, the director now directly owns 49,825 shares in the company. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at TheStreet downgraded shares of Impax Laboratories (NASDAQ:IPXL) from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. Separately, analysts at Canaccord Genuity raised their price target on shares of Impax Laboratories (NASDAQ:IPXL) from $20.00 to $22.00 in a research note to investors on Thursday, September 5th. They now have a “hold” rating on the stock. Finally, analysts at Buckingham Research downgraded shares of Impax Laboratories (NASDAQ:IPXL) from a “neutral” rating to an “underperform” rating in a research note to investors on Monday, August 12th. They now have a $15.00 price target on the stock.
One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Impax Laboratories presently has an average rating of “Hold” and a consensus target price of $20.25.
Impax Laboratories (NASDAQ:IPXL) traded up 1.62% on Friday, hitting $20.64. The stock had a trading volume of 301,506 shares. Impax Laboratories has a 52 week low of $14.41 and a 52 week high of $27.25. The stock has a 50-day moving average of $20.8 and a 200-day moving average of $18.69. The company has a market cap of $1.382 billion and a P/E ratio of 10.27.
Impax Laboratories (NASDAQ:IPXL) last released its earnings data on Thursday, August 8th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. The company had revenue of $129.63 million for the quarter, compared to the consensus estimate of $120.75 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was down 22.2% on a year-over-year basis.
Impax Laboratories Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products, referred to as generics, in addition to the development and marketing of branded products.
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