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 stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $24.31, for a total transaction of $36,465.00. Following the sale, the director now directly owns 43,825 shares of the company’s stock, valued at approximately $1,065,386. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Impax Laboratories (NASDAQ:IPXL) traded up 0.16% on Wednesday, hitting $24.55. 1,009,290 shares of the company’s stock traded hands. Impax Laboratories has a one year low of $14.41 and a one year high of $25.50. The stock’s 50-day moving average is $23.97 and its 200-day moving average is $21.48. The company has a market cap of $1.648 billion and a price-to-earnings ratio of 14.52.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.33. The company had revenue of $115.75 million for the quarter, compared to the consensus estimate of $111.83 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, analysts predict that Impax Laboratories will post $0.86 earnings per share for the current fiscal year.
A number of research firms have recently commented on IPXL. Analysts at RBC Capital initiated coverage on shares of Impax Laboratories in a research note to investors on Monday. They set a “sector perform” rating and a $25.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Impax Laboratories in a research note to investors on Monday, December 16th. They set a “buy” rating and a $29.00 price target on the stock. Finally, analysts at TheStreet upgraded shares of Impax Laboratories from a “hold” rating to a “buy” rating in a research note to investors on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Impax Laboratories presently has an average rating of “Hold” and a consensus target price of $21.36.
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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