Impax Laboratories Stock Rating Upgraded by Zacks (IPXL)
Impax Laboratories (NASDAQ:IPXL) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Thursday, AnalystRatingsNetwork.com reports. The firm currently has a $22.30 target price on the stock. Zacks‘ target price suggests a potential upside of 10.45% from the company’s current price.
A number of other firms have also recently commented on IPXL. 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, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.12.
Shares of Impax Laboratories (NASDAQ:IPXL) traded up 2.33% on Thursday, hitting $20.19. The stock had a trading volume of 511,688 shares. Impax Laboratories has a one year low of $14.41 and a one year high of $26.15. The stock’s 50-day moving average is $20. and its 200-day moving average is $19.28. The company has a market cap of $1.351 billion and a price-to-earnings ratio of 9.98.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data 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. On average, analysts predict that Impax Laboratories will post $0.37 earnings per share for the current fiscal year.
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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