Insider Selling: Robert Burr Sells 1,500 Shares of Impax Laboratories Stock (IPXL)
Impax Laboratories (NASDAQ:IPXL) Director Robert Burr unloaded 1,500 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $20.10, for a total transaction of $30,150.00. Following the transaction, the director now directly owns 48,325 shares of the company’s stock, valued at approximately $971,333. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Impax Laboratories (NASDAQ:IPXL) traded up 0.66% on Thursday, hitting $19.79. 544,906 shares of the company’s stock traded hands. Impax Laboratories has a 1-year low of $14.41 and a 1-year high of $26.46. The stock has a 50-day moving average of $20.61 and a 200-day moving average of $19.1. The company has a market cap of $1.325 billion and a price-to-earnings ratio of 9.94.
Impax Laboratories (NASDAQ:IPXL) last announced its earnings results on Thursday, August 8th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.60 earnings per share. The company’s quarterly revenue was down 22.2% on a year-over-year basis. Analysts expect that Impax Laboratories will post $0.35 EPS for the current fiscal year.
IPXL has been the subject of a number of recent research reports. Analysts at TheStreet downgraded shares of Impax Laboratories from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, September 11th. Separately, analysts at Canaccord Genuity raised their price target on shares of Impax Laboratories 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 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 analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $18.80.
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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